Bumo Sarang Faces Significant Losses from Leveraged ETF Investment

Bumo Sarang, the seventh-largest mutual aid company in South Korea, reported a loss of 49.3 billion won last year. According to NS3.AI, this loss resulted from investing 59.5 billion won of its operating funds into a leveraged ETF. The ETF was structured to track twice the daily return of Bitmine, a stock associated with Ethereum. A review by Hankyung of 2025 audit reports for 75 mutual aid companies revealed that 42.7% of these companies had total assets below the advance payments owed to customers.