Jung Jeom-sik Demands National Probe of South Korean Stock Market Turmoil

Jung Jeom-sik, the People Power Party’s floor leader in the National Assembly, urged the ruling Democratic Party to launch a parliamentary investigation into the recent extreme volatility of the KOSPI and KOSDAQ markets. He highlighted that the market experienced daily circuit‑breaker triggers, a 16% drop in two days and an 18% surge in a single day, describing the situation as akin to a casino.

He outlined five specific areas for inquiry: the introduction and impact of single‑stock leveraged ETFs, the government’s role in fostering market overheating, corporate excess‑profit distribution and the controversial Honnam semiconductor cluster, the stability of pension funds such as the National Pension Service, and the adequacy of financial supervisory authorities. Jung posted the call on Facebook, criticized what he called inappropriate government intervention, and demanded swift accountability for the market turmoil.