Bank of Korea Governor Apologizes for Insufficient Risk Warnings on Single-Stock Leveraged ETFs

BlockBeats news, October 12: Bank of Korea Governor Shin Hyun-song said at the National Assembly's Strategy and Finance Committee parliamentary audit meeting on the 12th: "We failed to issue sufficient warnings about single-stock leveraged ETFs, and I apologize to the public for this. At the end of May, I did not fully grasp the volatility in the South Korean domestic stock market, as well as the volatility in the memory chip sector."

In addition, regarding the Bank of Korea's June "Financial Stability Report," which had judged that single-stock leveraged ETFs were "expected to prevent domestic investment funds from flowing overseas and help expand overseas capital inflows," Shin Hyun-song also acknowledged the error in that judgment and said: "Looking at the situation at the time, that judgment was not appropriate."