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South Korea's Top Financial Regulator Apologizes Over Leveraged ETF Controversy, Vows to Restore Market Trust

On July 29, the head of South Korea's primary financial regulatory body publicly apologized over a controversy surrounding single-stock leveraged exchange-traded funds (ETFs). Earlier, some investors and market participants argued that such products had exacerbated market volatility and led to significant losses in investor wealth. Lee Bok-hyun, Chairman of the Financial Services Commission, expressed regret that the regulator had failed to meet public trust in multiple aspects. Lee Chan-jin, head of the Financial Supervisory Service, stated that regulators are doing their utmost to restore market trust.

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