Blue House policy chief resigns amid backlash over leveraged ETFs
Translated from Korean and summarized by DistantNews. Read the original for the full story.
At a glance
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Official statement
Outcome reported
- Kim Yong-beom, director of national policy at South Korea’s Blue House, resigned after serving in the role since President Lee Jae Myung’s administration began.
- The Blue House said Lee accepted Kim’s resignation, while observers linked it to criticism of the introduction of single-stock leveraged ETFs and opposition demands for his removal.
Kim Yong-beom, the Blue House director of national policy, resigned on Tuesday after serving in the post since the launch of President Lee Jae Myung’s administration in June last year.
The Blue House said Kim submitted his resignation on Monday and that Lee accepted it on Tuesday. The announcement came during a briefing at the presidential office.
Some observers connected the resignation to backlash over the introduction of single-stock leveraged exchange-traded funds. Opposition parties had criticized Lee’s decision to retain Kim during Sunday’s reshuffle of the Cabinet and presidential advisers.
They described the decision as a “rejection of overhauling governance” and called for Kim to resign. His departure now ends his tenure as the administration’s national policy director.
About this summary
Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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