South Korea's seventh-largest pension relief company lost approximately $32.73 million investing in an Ethereum leveraged ETF.

CoinFeed reported on May 19th that, according to the Korea Economic Daily, Bumo Sarang, South Korea's seventh-largest pension and social welfare company, invested 59.5 billion won of its operating funds in a daily double-return leveraged ETF of Ethereum-themed stock Bitmine last year, incurring a loss of 49.3 billion won (approximately US$32.73 million). A comprehensive review of the 2025 audit reports of 75 pension and social welfare companies revealed that 42.7% of the companies' total assets were lower than the prepayments owed to customers, meaning that if all customers simultaneously terminated their contracts, the companies would be unable to provide full refunds.