Vice Chair Kwon Dae-young of the Financial Services Commission apologized, saying he "takes seriously that the intent was not fully conveyed," regarding his remark that "debt-fueled investing," or "bit-too," is a form of leverage.
Kwon made the comment at a full meeting of the National Policy Committee on the 11th after an opposition lawmaker said his remark encouraged debt-fueled investing.
Kwon said, "What I meant to say is not much different from what the commissioners think," but added, "I will take the criticism to heart and keep it firmly in mind." He continued, "I spoke of proper portfolio management and bearing risk, but this is the result," and said, "I take seriously that the truth and intent of my words were not fully conveyed, and I will be especially careful with my expressions."
On the 4th, Kwon appeared on CBS Radio "Kim Hyun-jung's News Show" and, regarding debt-fueled investing, said, "It can be seen as a kind of leveraged investment." In political circles, criticism emerged that a senior official of the financial authorities had encouraged debt-fueled investing.