"Shortcomings in Leveraged ETFs" ... "Housing Prices Will Stabilize"

[Anchor]

At a press conference, President Lee Jae-myung admitted that there were "shortcomings" in the introduction of single-stock leveraged ETFs, but drew a line regarding responsibility, saying that someone must have made the decision. He also projected that Seoul's real estate prices will gradually stabilize.

Reporter Park Jae-yeon reports.

[Reporter]

When asked whether he considered the decision to introduce single-stock leveraged ETFs—which have drawn criticism for fueling volatility in the domestic stock market—to be a mistake, President Lee Jae-myung stated that it is currently not a problem due to supplementary measures, but acknowledged that criticism is possible, replying as follows.

[President Lee Jae-myung: "I wonder if there was some instability in the government's policy. I think it is true that there were shortcomings."]

While conservative opposition parties and others argue that figures including Kim Yong-beom, former Cheong Wa Dae chief of staff for policy, led and pushed through the introduction of leveraged ETFs, President Lee stated only this regarding the introduction process and accountability.

[President Lee Jae-myung: "I have not yet grasped the detailed procedural contents of how that decision was made. Someone must have made the decision."]

Regarding the Seoul real estate issue, he stated that concentration in the capital region is the fundamental cause and repeatedly emphasized his commitment to balanced regional development and expanding supply.

He also offered an analysis that price drops are spreading in the Gangnam area while peripheral areas are rising, stating as follows.

[President Lee Jae-myung: "Gangnam is at the peak, and other areas are low like this, but it seems a sort of 'flattening process' is underway where this side is now falling and this side is slightly rising."]

Regarding this remark on a "flattening process," Cheong Wa Dae also added, "It was an explanation of price fluctuation trends," adding, "We take heavily the situation in which the public burden has increased."

Regarding the jeonse system, this question-and-answer exchange took place.

[President Lee Jae-myung: "(You remarked that [jeonse] is a system that should gradually disappear.) I said it would disappear; when did I ever say it should disappear?"]

President Lee Jae-myung also predicted that the real estate market will gradually stabilize through all possible measures across regulations, supply, and taxation, drawing assessments that this press conference focused on consistency rather than a change in the real estate policy stance.

(Video by Jeong Sang-bo and Ha Ryung | Video Editing by Jeon Mingyu)
※ Please note: This article was translated by AI and may contain errors.