“I didn’t have enough money to buy SK Hynix, so I invested 1 million won in a leveraged product. I was nicknamed ‘high point reader’ among my friends.” This is what Mr. A, in his 20s, said after investing in the SK Hynix leveraged exchange-traded fund (ETF) at the end of June. On May 27, 14 types of leveraged ETFs that track the double returns of single stocks such as Samsung Electronics and SK Hynix were listed on the domestic stock market. Within a month, KOSPI was completely swept away by the huge upheaval caused by leveraged ETFs. Volatility is reaching such a peak that sell/buy sidecars are activated alternately throughout the day. On July 6 (local time), the U.S. Wall Street Journal singled out leveraged ETFs as one of the causes and pointed out that “the world’s hottest market is at risk of becoming a game of squid.” "What is driving KOSPI's violent movements are only two stocks, namely Samsung Electronics and SK Hynix. The sharp rise and fall in the stock prices of these stocks has intensified due to the influence of leveraged products that mechanically decide to sell or buy depending on market conditions. Similar to this in the United States.