Koo Yun cheol: Leveraged ETFs are one of the market turbulence factors, and South Korean authorities will hold an emergency meeting

According to Kim Ten, South Korean authorities will hold an emergency meeting on Wednesday (UTC+8) at 17:00 to discuss stock market volatility and measures to stabilize the market, chaired by Finance Minister Koo Yun cheol. The South Korean National Assembly held a hearing on the stock market crash, with lawmakers attributing the drop to a single stock leveraged ETF launched in May. Koo Yun cheol apologized at the hearing, acknowledging that regulatory authorities should conduct more thorough evaluations before product launches, and stating that leveraged ETFs are one of the factors causing market volatility. Koo Yun cheol stated that the authorities have implemented response measures and will take action if necessary to help the market return to normal.