Kim Yong-beom, Chief Presidential Secretary for Policy, has shared his stance on regulatory measures targeting single-stock leverage products, which have been pointed out as a cause of recent extreme volatility in the domestic stock market.
Appearing on a radio broadcast today, Chief Secretary Kim mentioned that the measure raising the basic deposit for single-stock leverage ETFs from 10 million won to 30 million won in cash will take effect early starting on the 31st, stating, "We expect the market stabilization effect to be substantial after these institutional supplements."
He added that additional supplementary measures would be reviewed if necessary after monitoring the implementation progress.
Regarding the pointing out of increased stock market volatility caused by recent single-stock leverage products for Samsung Electronics and SK Hynix, he said, "It is difficult to view leverage products as the sole cause," while acknowledging that "it is true that leverage products had some impact."
At the same time, he explained, "Semiconductor stocks themselves have high volatility, and there is an aspect where the timing of the increased volatility coincided with the launch of the products," adding, "That is why the volatility is appearing more prominently."
Mentioning President Lee Jae-myung's "San Francisco AI Declaration," Chief Secretary Kim forecasted with the intent that if the trend of solid artificial intelligence demand spreads, the market will return to an upward trajectory.
In response to concerns that raising the deposit to 30 million won might not prevent the participation of so-called "big hand" investors and individual investors, Chief Secretary Kim replied, "There are various other supplementary measures as well," and added, "If additional measures, such as raising the deposit size much further, are necessary, we will implement them when the time comes."
(Reported by Lee Hyeon-yeong | Video by Seo Byeong-wook | Design by Yang Hye-min | Produced by SBS Digital News)
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