Jeong Cheongrae Raises Kim Minseok’s Accountability over Leveraged ETFs... Kim Yong Urges “Just Make Your Anti-Myung Position Public”

Kim Yong, candidate for the Supreme Council of the Democratic Party of Korea, criticized Jeong Cheongrae, who is running for the party leadership, following Jeong's remarks holding former Prime Minister Minseok Kim (currently also a candidate for party leader) responsible for the single-stock leveraged exchange-traded funds (ETF) issue. Kim Yong stated, "Be honest and just come out as anti-Lee supporters."

On this day, through social networking services (SNS), Kim Yong said, "One might think that Candidate Jeong Cheongrae wasn’t the party leader for the past year," adding, "Whenever something unfavorable happens, he claims not to have known, not to have been notified, or not to have received the bill. Now, are you shifting the entire responsibility for the ETF policy, which was decided by the Lee Jaemyung administration, onto Prime Minister Minseok Kim alone?"

Previously, Jeong Cheongrae had commented via SNS, "With so many citizens suffering tears of blood from single-stock leveraged ETFs, shouldn't Candidate Minseok Kim, as a former prime minister, apologize?"

In response, Kim Yong remarked, "Isn’t the real intention to criticize President Lee Jaemyung and government policy?" and further said, "It seems he can’t bring himself to address the president directly, so he’s trying to shift all the blame onto his rival candidate, former Prime Minister Minseok Kim."

Kim Yong, former Deputy Director of the Democratic Research Institute, who is running for the Supreme Council of the Democratic Party of Korea, is giving an interview to The Asia Business Daily at a cafe in Yeouido, Seoul. 2026.7.8 Photo by Kim Hyunmin

He continued, "At the time, Jeong Cheongrae was the leader of the ruling party," and criticized, "If the revision of the enforcement decree itself is a problem, then what exactly did the party leader do? Are you going to excuse yourself by saying the government didn't inform you?" Kim Yong went on to say, "If government policy causes side effects in the market, shouldn’t the leader of the ruling party take joint responsibility, prepare countermeasures at the party level, and pool wisdom in the spirit of teamwork? If the real target of criticism is the Lee Jaemyung administration, just say so directly."

Meanwhile, Kim Yong's camp stated, "It has been confirmed that some social media accounts and others have been spreading false information claiming that the introduction of leveraged ETFs was ordered by former Prime Minister Minseok Kim," emphasizing, "This is clearly fake news, and we plan to take immediate legal action."

This content was produced with the assistance of AI translation services.