Kim Yong-beom, head of the Blue House Policy Office, addressed the recent volatility in the KOSPI index on July 10, attributing it to the introduction of single-stock leverage exchange-traded funds (ETFs). He stated, "Since this is a newly implemented system, I believe that if any adjustments are necessary, decisions will be made during the market situation review meetings."
During a briefing at the Blue House, Kim noted that the Ministry of Economy and Finance, the Financial Services Commission, the Bank of Korea, and the Financial Supervisory Service are closely monitoring the market conditions. He explained, "Each institution is examining the situation, and since the ETFs have been operational for about a month and a half, we will also look closely at their impact on the market during this period."
In addition, Kim addressed the establishment of a semiconductor cluster at the Gwangju Air Base, stating that discussions between the U.S. and South Korea are necessary due to the base's current use by some U.S. military personnel. He confirmed, "We have already begun consultations with the U.S."
* This article has been translated by AI.
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