[E-Daily Reporter HEO YUN-SU ] President Lee Jae-myung stated on the 18th that “it is true there were shortcomings” regarding single-stock leveraged ETFs.

Speaking about single-stock leveraged ETFs at a press conference held that day at the Blue House State Guest House, President Lee said, “The fact that we had to make corrections later suggests there were shortcomings in government policy. It is fair to criticize that it would have been better if we had implemented corrective measures in advance.”

He noted that he had not yet fully grasped the specific procedures and details surrounding the introduction of single-stock leveraged ETFs, reflecting, “When I was briefed at the time, the gist was that while such products for Samsung Electronics and SK Hynix had already been launched overseas—in places like Hong Kong—the domestic market lacked such a system, so investors were turning to overseas markets.”

President Lee noted that he had been briefed on the benefits, such as stabilizing the foreign exchange market and encouraging domestic investment, adding, “Looking back, it seems it was almost the final stage of the stock price rally.” He continued, “When the market shifted from double profits to a downward trend, losses doubled, and I understand corrective measures were taken.”

He continued, “It seems public discontent grew because those who had purchased leveraged ETF products at the time suffered significant losses,” adding, “Not even a prophet can predict whether stock prices will rise or whether investment activities will yield profits.”

He also revealed that the selection of a successor to Policy Chief Kim Yong-beom is still under consideration. “Up until now, since we had to survive, all of the nation’s resources were focused on economic recovery, sustainable growth, and securing growth engines, and we’ve seen significant improvement,” he said.

He continued, “We are carefully considering the suggestion that we should shift toward strengthening social policies, which are widely perceived as lacking,” and added, “We are looking for the right person for the job.”