South Korean President Lee Jae-myung has called upon financial regulators to implement bold and swift measures to address market volatility stemming from single-stock leveraged exchange-traded funds (ETFs).

The President made the request during a cabinet meeting on Tuesday, highlighting concerns within the market that these specific leveraged products are contributing to increased instability in the stock market.

In response, Lee Bok-hyun, Chairman of the Financial Services Commission, stated that authorities had already announced relevant measures last week. He added that the situation is being closely monitored and that additional steps will be formulated if deemed necessary.