5 month 27 day-listed “Samjeonnix” 2x leveraged ETF, daily fluctuation of 10% recorded

5 month 27 day, a 2x leveraged exchange-traded fund based on Samsung Electronics and SK hynix, hereinafter referred to as Samjeonnix, was listed. This product is a leveraged ETF designed to target 2x the return of movements in its underlying assets.

Immediately after the listing, concerns emerged in the market that the ETF was significantly amplifying trading flows in the semiconductor sector. According to reports, on some trading days, the daily fluctuation of related stocks reached 10%.

Samjeonnix’s underlying assets are Samsung Electronics and SK hynix. Reports have continued to say that concentrated trading in these two stocks is being channeled through the ETF, contributing to increased KOSPI volatility.

National Assembly member Park Soo-young questioned the circumstances surrounding the product’s launch. Park said the product was launched four months after a meeting between Representative Lee Jae-myung and the chief executives of securities firms, and expressed his intention to request a parliamentary investigation.

In a press release, Park described the situation as “the KOSPI casino directed by Lee Jae-myung and starring Kim Yong-beom.” He argued that an investigation through the National Assembly was necessary to hold those responsible for the launch accountable.

No official position from the ETF’s asset manager or the financial authorities, or schedule for a follow-up investigation, has been reported. The market is simultaneously reporting trading flows and the political dispute.