"Shortcomings in Introduction of Leveraged ETFs"..."Real Estate Will Stabilize"

[Anchor]

Next, we turn to the economy. President Lee Jae-myung acknowledged that there were "shortcomings" in the introduction of single-stock leveraged ETFs, while stating that he has not yet grasped how the decision was made or who made it. He also expressed optimism that real estate prices in Seoul will gradually stabilize through government policies.

Reporter Park Jae-yeon reports.

[Reporter]

When asked whether he considered the decision to introduce single-stock leveraged ETFs—which have drawn criticism for heightening volatility in the domestic stock market—to be a mistake, President Lee Jae-myung replied that while complementary measures have resolved current issues, criticism is understandable, stating:

[President Lee Jae-myung: I think there may have been some instability in government policy. It seems true that there were shortcomings.]

While conservative opposition parties and critics argue that former Cheong Wa Dae Chief of Staff for Policy Kim Yong-beom and others led the push to introduce leveraged ETFs, President Lee addressed the introduction process and accountability only by saying:

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

Regarding real estate issues in Seoul, he cited concentration in the capital region as the fundamental cause and reiterated his commitment to balanced regional development and expanding housing supply.

He also offered an analysis that price declines are spreading in the Gangnam area while prices in outlying areas are rising:

[President Lee Jae-myung: Gangnam was at the peak and other areas were low, but now Gangnam is coming down and other areas are slightly rising, suggesting a kind of 'leveling off' is underway.]

Regarding the "leveling off" remark, Cheong Wa Dae added that it was "an explanation of price movement trends," noting, "We take the situation of the public's growing burden very seriously."

Regarding the jeonse (lump-sum housing deposit lease) system, the following exchange took place:

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

President Lee also projected that the real estate market will gradually stabilize through every available measure, including regulations, supply, and taxation. Observers evaluated that this press conference emphasized policy consistency rather than a shift in real estate policy direction.

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