SEOUL, July 31 (Yonhap) -- The ruling Democratic Party (DP) vowed Friday to work closely with the government to reduce uncertainty in the domestic stock market and review measures to protect investors amid heightened volatility.

Acting DP leader Han Byung-do made the remark during a meeting of the party's supreme council, saying his party views the current market situation "seriously."

"The government held an emergency meeting to review the market situation with relevant agencies and agreed that investment concentrated on single-stock leveraged exchange-traded funds (ETFs) is increasing market volatility," he said.

The DP will review whether adequate measures were taken to protect investors when the investment product was introduced, he added.

The remarks came amid concerns that the single-stock leveraged ETFs on chipmakers have amplified wild market swings and triggered sharp sell-offs and retail losses.

Rep. Han criticized the main opposition People Power Party for using investors' anxiety as "material for political attacks" and increasing market uncertainty with "unverified claims," saying it could undermine confidence in the stock market and cause significant losses for investors.

"We need to precisely assess what the market needs and come up with realistic measures," he said.

Rep. Kang Deuk-gu proposed forming a special task force involving the DP's policy committee, financial authorities and experts to discuss measures to better protect investors.

julesyi@yna.co.kr

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