Woofun AI reports that CICC research indicates Korean stock on-exchange leverage multiples currently range between 2x and 5x, marking absolute historical highs. Although relative market value ratios are not extreme in horizontal or vertical comparisons, sentiment and liquidity indicators show slight tightness.

High leverage levels may amplify volatility and induce liquidity pressure, with a 16-36% price decline potentially triggering margin calls. While recent liquidation pressures have intensified, medium-to-long-term trends remain primarily dependent on fundamental factors.