Policymakers have yet to explain who decided to introduce single-stock leveraged exchange-traded funds (ETFs) or why their reviews were expedited, even as retail investors have sustained more than 2 trillion won ($1.5 billion) in losses on the products tracking Samsung Electronics and SK hynix. The funds have also drawn criticism for amplifying stock market volatility. At a National Assembly audit Monday, Financial Supervisory Service (FSS) Gov. Lee Chan-jin acknowledged that the products underwent unusually rapid reviews to meet a policy timetable. But he offered no concrete explanation of who set that timetable or on what grounds. These ETFs were made possible by a government decision to ease regulations. An amendment to the enforcement decree of the Capital Markets Act cleared the Cabinet on April 21. The Financial Services Commission (FSC), the country’s top financial regulator, said at the time that the products could be listed as early as May 22. On May 15, it announced a planned listing date of May 27, and 16 products made their debut that day. Monday’s audit raised questions