South Korea's financial regulator said on Thursday that the decision to launch single-stock leveraged exchange-traded funds reflected a range of views, and denied claims that it was ordered by the presidential office. According to Sina Finance, Lee Eog-weon, chairman of South Korea's Financial Services Commission, made the remarks during a parliamentary hearing in response to an opposition lawmaker's question about why the products were introduced.

Lee said, "We listened to views from all sides." In May, 16 single-stock leveraged ETFs were listed on South Korea's main board market, triggering sharp market volatility. To curb the swings, South Korea later raised the minimum cash margin required to invest in single-stock leveraged ETFs from 10 million won to 30 million won in late July.

Lee also disputed a recent market estimate that said South Korean retail investors suffered about 54 trillion won in losses from single-stock leveraged ETFs, saying the figure was "not accurate." He added, "Whether or not this policy was necessary, I deeply apologize for the losses, concerns and harm caused by it."