South Korean President Lee Jae-myung acknowledged on Friday that the single-stock leveraged exchange-traded fund launched earlier this year had shortcomings. Li Zaiming said at the press conference that this type of product was launched when the stock market rally was nearing its end, and the subsequent market shift caused huge losses to investors. However, Lee Jae-myung did not apologize for this, nor did he name the person responsible for making the relevant policy decisions.

South Korean President Lee Jae-myung acknowledged on Friday that the single-stock leveraged exchange-traded fund launched earlier this year had shortcomings. Li Zaiming said at the press conference that this type of product was launched when the stock market rally was nearing its end, and the subsequent market shift caused huge losses to investors. However, Lee Jae-myung did not apologize for this, nor did he name the person responsible for making the relevant policy decisions.