People Power Party Leader Jang Dong-hyeok argued that the resignation of Cheong Wa Dae Policy Chief Kim Yong-beom "is not something that can be resolved just by stepping down, and a special counsel is necessary."
Leader Jang wrote on his social media today (September 1), "Cheong Wa Dae Policy Chief Kim Yong-beom has been driven out by the public."
Referring to single-stock leverage ETFs, he pointed out, "It was Kim's creation," adding, "The stock market turned into a gambling den, the public's bank accounts were cleaned out, and only securities firms made money."
Jang asked rhetorically, "Nobody else's, but Chief Kim's son works at a securities firm," and "Isn't this a clear subject for investigation?"
Jang also claimed, "Chief Kim is merely the tail, and the body must be President Lee Jae-myung."
At the same time, he emphasized, "Public damages amount to 54 trillion won," and "We must at least have a special counsel."
After being appointed as the current administration's inaugural policy chief, Kim directed major pending issues such as South Korea-U.S. trade negotiations over a period of about 1 year and 3 months, and has played a leading role in pushing forward the government's "three major mega-project" initiatives.
However, as public criticism mounted over losses suffered by ordinary citizens due to stock market turmoil and failures in real estate policy, it is interpreted that he judged it no longer tenable to maintain his position.
Amid a recent downward trend in President Lee's approval ratings, some analyze that a personnel shakeup was inevitable to secure trust in policies such as real estate, on which the administration has staked its life.
The People Power Party has continuously raised the issue of Chief Kim's responsibility over the stock market volatility caused by the introduction of leverage ETFs and ongoing instability in the real estate market. With the party now demanding an "ETF special counsel" on top of a "parliamentary investigation into the stock market chaos" following his resignation, rivalry between the ruling and opposition parties is expected to intensify further.
Reported by Lee Hyeon-yeong | Video by Kim Na-on | Graphics by Yook Do-hyun | Produced by SBS Digital News
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