Centered on opposition party lawmakers, members of the National Assembly Political Affairs Committee demanded accountability from the Blue House over the launch of single-stock leveraged ETFs (Exchange-Traded Funds). They protested that former Blue House Jeong Chaek (Head) Kim Yong-beom was not selected as a witness for the national audit, raising the level of criticism by stating, "This is a case where someone should go to prison." The Financial Services Commission stated that it launched the product in accordance with legal procedures and that there were no instructions from the Blue House.
At the Political Affairs Committee's audit of the Financial Services Commission held on the 8th at the Seoul Yeouido National Assembly, the issue of accountability for single-stock leveraged ETFs came under scrutiny. People Power Party lawmaker Park Seong-hoon stated in a procedural speech, "The damage to the public from the hastily launched single-stock ETF one week before the June local elections amounts to 54 trillion won. This 54 trillion won is someone's dream and future." He pressed, "Suspicions have been raised that the Blue House stepped forward and rushed the launch of such high-risk financial products, so why was former Director Kim Yong-beom, who was Jeong Chaek (Head) at the time, not selected as a witness?"
Park (Rep.) stated, "As a result of the National Pension Service forcibly accumulating stocks even by changing its internal regulations to prop up stock prices during that process, the National Pension Service recorded a loss of 182 trillion won in July alone." He criticized, "In terms of market capitalization, it is as if two and a half Hyundai Motor Groups have disappeared, yet former Director Kim Yong-beom was not selected as a witness."
Citing remarks from a Mirae Asset Securities official, Park (Rep.) said, "They say that at the January 6 meeting, the Korea Financial Investment Association proposed the introduction of the product, but (in the explanation of the introduction process) it does not add up," and criticized Financial Services Commission Chairman Lee Eui-woon by asking, "Does this make sense?"
The opposition lawmakers' pursuit of accountability continued.
People Power Party lawmaker Park Dae-chul requested the submission of reports related to the Blue House meetings on January 6 and 13, attended by then-Financial Services Commission Vice Chairman Kwon Dae-young. He also requested all official documents, emails, and report materials exchanged between the Financial Services Commission, the Financial Supervisory Service, and the Presidential Office regarding single-stock leveraged ETFs from early December 2025 to late April 2026.
Park Jun-tae (Rep.) of the same party claimed that "President Lee Jae-myung and the Blue House are the main culprits, while the Financial Investment Association and the Financial Services Commission are accomplices." He cited two grounds. First, a research institute under the Financial Investment Association opposed single-stock leveraged ETFs in a 2024 report but reversed its stance to support them in an August 2025 report immediately after President Lee's inauguration. Second, at a meeting chaired by the Financial Services Commission on January 6, attended by the Financial Investment Association and securities firms, the Financial Investment Association proposed the introduction of the product without any approval or proposal from member companies.
Park Jun-tae (Rep.) added, "Member companies opposed it, but the Financial Investment Association took the lead, and the meeting materials were submitted to the Financial Services Commission as they were." He elaborated, "It was confirmed that at the January 13 non-public Blue House meeting, not a single industry player proposed single-stock leveraged ETFs."
Park Jun-tae (Rep.) identified former Director Kim as the driving force behind the introduction. He claimed, "On this day (January 13), the introduction was effectively finalized under the leadership of former Director Kim Yong-beom, and the next day, former Director Kim told the media, 'Why can't we do what is possible on NASDAQ?'" He asserted, "Because everything was settled at the January 13 meeting, it is an admission that he himself led the process."
In response to Park Jun-tae (Rep.)'s question of whether it was a Blue House instruction, Financial Services Commission Chairman Lee Eui-woon answered, "No. A necessity was raised as to why it is possible overseas but not domestically."
To this, Park Jun-tae (Rep.) criticized, "Former Director Kim fled first and escaped witness selection today, while the President is cutting off the tail by saying 'someone must have done it.'" He denounced, "Right now, there is no one to take responsibility. Whether through a national investigation, prosecution, or special counsel, this must be re-investigated after the change of administration and clearly revealed; it is a case where someone should go to prison."
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