Jeong Jeong-sik on Kim Yong-bum's Blue House Resignation: "Late but Fortunate... Financial Supervisory Heads Must Also Be Replaced"

Jeong Jeongsik, floor leader of the People Power Party, commented on September 1 regarding the resignation of Kim Yong-beom, the Blue House policy chief, saying, "It is really late, but I am relieved that the demands of the public and the opposition party have finally been accepted." He added, "Of the three key figures behind the single-stock leveraged ETF, the remaining ones—Financial Services Commission Chairman Lee Eogwon and Financial Supervisory Service Governor Lee Chanjin—should also be dismissed."

After the floor countermeasure meeting at the National Assembly in the morning, Jeong spoke to the press, stating, "Separate from Chief Kim’s resignation, measures to uncover the truth about the introduction of single-stock leveraged ETFs are essential—including a parliamentary investigation."

Jeong Jeongsik, floor leader of the People Power Party, and other floor leadership members are attending the floor countermeasure meeting held at the National Assembly in Yeouido, Seoul, on September 1, 2026. Photo by Dongju Yoon

Jeong stressed, "The biggest factor behind President Lee Jaemyung’s recent drop in approval ratings is the economy. The Blue House and the Cabinet’s top economic officials have now been replaced, but this should not end as a mere personnel reshuffle for show; it must lead to a substantive change in policy direction."

He went on to say, "Our party has indeed criticized Chief Kim a lot. However, realistically, he probably never acted contrary to the President’s intentions. In fact, there has been an aspect where Chief Kim has borne the responsibility that should have fallen on the President, and this acceptance of his resignation looks like an attempt to cut off the tail."

Jeong also commented, "After the second cabinet reshuffle announcement last weekend, public sentiment has deteriorated. In particular, the nomination of Kim Seungwon, former head of the ‘Cancel Prosecution’ club, as Minister of Justice, has sparked considerable backlash. The administration seems to have hastily thrown another smokescreen in response, effectively admitting to the failure of the reshuffle already."

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