Top South Korean policy makers apologise for single-stock leveraged ETFs

SEOUL, July 29 : Top South Korean policy makers apologised on Wednesday over the introduction of single-stock leveraged exchange-traded funds (ETFs), which have been blamed for intensifying a rout in the country's stock market. Finance Minister Koo Yun-cheol said he was sorry for introducing the product without careful consideration, responding to a lawmaker's demand for an apology during a parliamentary session. At another parliamentary session, the country's top financial regulator made similar comments, after several lawmakers criticised the release of the funds for exacerbating a sell-off in South Korean equities this month. "As the ultimate authority responsible for the financial markets, we feel sorry that we have fallen short in properly meeting the public's expectations" over regul