South Korea's Finance Minister Koo Yun-cheol apologized on Wednesday to parliament after retail investors lost billions of dollars with the collapse of new single-stock leveraged exchange-traded funds (ETFs) that sparked a historic two-day sell-off in South Korea's Korea Composite Stock Price Index (KOSPI). The decline marked the first time South Korea's securities market triggered circuit breakers on two consecutive trading days, highlighting the scale of the market correction. The FSC has already announced tighter safeguards, including increasing the minimum cash deposit required to invest in single-stock leveraged ETFs. The episode has also renewed debate over South Korea's regulatory credibility. The rapid policy reversal is likely to remain under scrutiny as investors assess whether regulatory uncertainty could further weigh on confidence in South Korea's equity market.