Ahn Cheol-soo, KOSDAQ 700 plunge criticized as the 'livelihood report card'
Lawmakers Ahn Cheol-soo said 7 month 10 day that the KOSDAQ had at one point fallen to 700 and criticized this as the 'livelihood report card' of the Lee Jae-myung administration. In a Facebook post, Ahn claimed that companies were being hit hard amid a high exchange rate, high prices, high interest rates and an economic slowdown, and that securities firms had carried out forced selling of leveraged investment accounts.
![Ahn Cheol-soo criticizes KOSDAQ 700 plunge as the 'livelihood report card'(/blog-images/gen-d43f87dc-1444-4252-a75f-2d5adbb2dc34.jpg)
Lawmakers Ahn Cheol-soo said 7 month 10 day that the KOSDAQ had at one point fallen to 700 and stated that this was "the real livelihood report card of the Lee Jae-myung administration." In the same post, he warned that this situation would ultimately lead to political responsibility.
Ahn wrote on Facebook, "Amid a high exchange rate, high prices, high interest rates and an economic slowdown, companies, the backbone of our economy, are seeing their circumstances worsen further and are suffering major damage."
He also wrote, "On the day the KOSDAQ plunged below 800, securities firms ruthlessly liquidated leveraged investment accounts. This is forced selling." Leveraged investment refers to investing with borrowed money.
Representative Ahn pointed out that forced liquidation is “unrelated to the individual’s intentions.” The sentence explained that forced liquidation refers to cases in which investments are forcibly liquidated regardless of the investor’s intentions.
The article did not mention any specific company or securities firm by name. Representative Ahn repeatedly referred to the fact that the market situation had been linked to the issue of political responsibility.
The article was reportedly posted on 7month 10day. It did not include any additional explanation of the posting time or specific cases of forced liquidation.
Sources: 연합인포맥스
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