What did the President of the South Korean Financial Supervisory Agency say? I deeply regret the introduction of leveraged ETFs, and both sides should have stopped it at that time According to BlockBeats, on June 23, Lee Chan jin, the director of the South Korean Financial Supervisory Agency, expressed regret for introducing the Samsung Electronics and SK Hynix single stock leveraged ETF on June 22, and acknowledged the policy failure, revealing that he is preparing investor safety measures. Regarding the debt investment boom in South Korea, Li Canzhen expressed vigilance against the statistical illusion phenomenon of a decrease in the proportion of credit trading financing balance to the total market value and a decrease in physical perception due to the growth of the stock market value. Li Canzhen's full statement at the press conference is as follows: Admitting the failure of the single stock leveraged ETF policy, he said he "deeply regrets" the introduction of Samsung Electronics and SK Hynix single stock leveraged ETFs at the end of last year to cope with high exchange rates, and expressed strong concerns about excessive investment. This system was introduced at the end of last year in response to the sustained high exchange rate of the Korean won, with the goal of redirecting retail investment demand for "overseas stock investments" back to the domestic stock market. Li Canzhen pointed out: "The extremely high turnover rate of this product is leading to the result of only allowing securities companies to make money. I am worried that this may become a situation where people in the casino make big money by pumping money. Personally, I am very concerned that real retail investors have not gained actual benefits, only the part where the management and operation system profits. When the turnover rate of this product is close to 200%, it is estimated that the trading fees that securities companies can obtain can reach up to 10 trillion Korean won. Personally, I am reflecting on whether I should lie down and stop it at that time no matter what, and now I deeply regret it." Li Canzhen warned that leveraged ETFs "only allow securities companies to make money," and investor protection measures are brewing. Li Canzhen expressed strong concerns about the high turnover rate of leveraged ETFs and warned that the current overheating situation has not eased. Although the Financial Supervisory Authority has recently issued consumer alerts, they have not cooled down. Most investors belong to the middle class and ordinary people, and any fluctuations in the stock market may have a huge impact on households. Therefore, additional safety measures are being considered. Regarding the specific direction of measures, Li Canzhen said, "We are studying solutions that can alleviate external shocks in credit related aspects, and will discuss with policy authorities how to handle various measures from financing margin to credit in stages." Worried about the borrowing investment boom and wary of statistical illusions about the overall stock market and lending investment situation in South Korea, Li Canzhen pointed out that market instability and trading concentration are intensifying. The sharp increase in trading turnover and other factors has greatly intensified market instability and volatility. In particular, the phenomenon of concentrated trading, mainly in semiconductor stocks, is expanding. Although lending and investment have also increased significantly, the proportion of credit financing balance to total market value has decreased as the total market value has risen, resulting in an ironic phenomenon of perceived decline. In order not to be overwhelmed by statistical illusions, we are closely monitoring and in fact taking it seriously. "Li Canzhen expressed strong dissatisfaction with the recent failure of SpaceX new stock subscription and distribution for future asset securities by Korean retail investors. I can't understand why not a single share has been allocated. The distribution process is simply unbelievable. From the perspective of investors, this is also a very inconvenient and unsatisfactory situation. If they hadn't participated in the new stock subscription, they could have bought stocks on the first day of listing, but weren't those money trapped by (new stock subscription)? "Li Canzhen later said," In order to protect investors and prevent it from happening again, we will share the inspection results of future asset securities