Jang Dong-hyuk argues that Samsung and SK single-stock leveraged ETFs 'should be investigated'
People Power Party leader Jang Dong-hyuk 7~8referred to the sharp drop in the stock market and called single-stock leveraged ETFs for Samsung Electronics and SK hynix "the main culprits that turned the stock market into a gambling den," arguing that the entire launch process should be investigated 9at a National Assembly supreme council meeting. His remarks called for investor protection and a review of the product structure.
People Power Party leader Jang Dong-hyuk 9at a supreme council meeting held at the National Assembly, pointed to single-stock leveraged exchange-traded funds (ETFs) for Samsung Electronics and SK hynix as "the main culprits that turned our stock market into a gambling den."
Referring to the sharp market decline over the past 7~8and the two-day plunge in the stock market, Jang said, "I worry that after Black Tuesday and Black Wednesday, this might become Black Every Day."
He argued that the process by which these single-stock leveraged ETFs, which are high-risk financial products, were launched should be investigated rather than audited. Specifically, he urged an investigation into who approved and sold the products and through what procedures.
The remarks repeatedly raised concerns related to investor protection. Representative Jang said responsibility in the launch process must be clearly established.
The remarks were made publicly at the 9Supreme Council meeting. Representative Jang repeatedly emphasized the need for an investigation during the meeting.
At present, the main text does not include any official announcement from the regulatory authorities or the asset manager. The remarks are a summary of Representative Jang’s public statements.
Sources: 연합인포맥스
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