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Search results for July 31

Telecommunications & Media

LG Uplus hacking cover-up probe drags on; Park Jung-hyun says it must not become a cold case

South Korean lawmaker Park Jung-hyun (박정현) urged police to conduct a strict investigation into allegations that LG Uplus covered up a hacking incident. Her office said the police probe into the disposal of a server and reinstallation of operating systems has continued for 10 months since the Ministry of Science and ICT requested an investigation. Authorities say those steps made technical and factual verification of a breach and possible data leak more difficult.

Finance

President Lee says policy gaps in single-stock leveraged ETF rollout

South Korean President Lee Jae-myung said there were shortcomings in the government’s policy rollout for single-stock leveraged exchange-traded funds. He said he has not yet fully identified the detailed decision-making process, but was briefed at the time that the products were needed for foreign exchange market stability and to encourage domestic investment. Lee said investor protections should have been built in from the launch stage, not added later.

Finance

Credit margin debt investing still rises despite drop in leveraged ETF trading

Credit trading loan balances in South Korea have risen again to more than 33 trillion won, reversing a recent decline, even as trading in single-stock leveraged ETFs has dropped sharply after tighter rules. Overall stock market turnover has slowed and investor deposit funds have slipped below 100 trillion won. Regulators are preparing additional investor-protection measures related to margin loans and unsettled trades, including tighter checks for minors and older investors and improved notice procedures.