BlockBeats News, July 15th—South Korean President Moon Jae-in stated that the South Korean stock market needs time to stabilize after a sharp rise in a short period. Moon made the remarks on Wednesday during a policy meeting with senior government officials in Seoul, saying, "The South Korean domestic stock market is currently quite unstable. Due to the unprecedented sharp rise in such a short period, the market needs time and a certain degree of volatility to stabilize."

Moon acknowledged recent controversies surrounding leveraged ETFs and urged the Financial Supervisory Service of Korea and the head of the Korea Exchange to promptly address the issues and formulate follow-up measures. Market participants expect regulatory authorities to take action to curb the impact of such high-risk products on market stability, including possibly raising the minimum margin requirements for investing in leveraged ETFs. South Korea's largest opposition party, the People Power Party, criticized the Moon administration on Tuesday for, on the one hand, setting ambitious stock market targets and, on the other hand, ignoring the growing leverage risk, thereby encouraging excessive risk-taking behavior.