{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Franklin FTSE Korea UCITS ETF is a physically replicated, non-leveraged ETF that tracks the FTSE Korea 30/18 Capped Index. The KIID and factsheet indicate that derivatives are used solely for efficient portfolio management (EPM) purposes, not as a core part of the investment strategy. The fund does not employ synthetic replication, leverage, or inverse strategies. It is UCITS-compliant, which imposes strict risk and transparency requirements. The underlying assets are straightforward Korean equities, and the risk profile is clearly disclosed without complex structures or capital protection mechanisms. The fund's risk level is moderate, and there are no indications of illiquid or hard-to-value securities. The absence of swaps, leverage, or complex derivatives supports the non-complex classification.",
    "confidence": 95
}