A criminal complaint was filed with the Supreme Prosecutors' Office alleging
presidential office policy chief Kim Yong-beom pushed for listing a single-stock
leveraged ETF tied to a semiconductor stock, accusing him of abuse of power,
coercion and obstruction. The complainant, former Seoul councilor Lee Jong-bae,
says the Financial Services Commission has been internally reviewing a plan
since January to establish a regulatory framework in Q2 and launch such products
in H2; single-stock leveraged ETFs are blamed for amplifying market volatility
and causing investors losses of tens of billions of dollars.
