Presidential Office's Kim Yongbeom: "Much Work Remains... But Now It's Time for the Next to Take Over"

Responsibility Raised over Single-Stock Leveraged ETFs

Blue House policy chief Kim Yongbeom delivered his resignation message on the 1st, saying, “There is still much to be done, but I felt that now is the time for me to step aside and let the next people fulfill their roles.”

On this day, Kim shared through Facebook, “Today, I have completed my duties as the first policy chief of the Lee Jae-myung Administration,” and added, “Instead of a separate farewell address, I am sharing the farewell message I sent to my closest colleagues.” The farewell was made public to the policy office staff.

Photo by Jo Yongjun, jun21@

He expressed his gratitude by saying, “As policy chief, I felt that I took on responsibilities much greater than my abilities. You filled those gaps. You pointed out things I missed, broadened my perspective when my thinking was narrow, and jumped in as if it were your own work whenever an issue arose.”

Kim stated, “I have witnessed up close just how much deliberation, persuasion, and coordination are required before a single policy is implemented.” He continued, “The achievements of the policy office are your achievements. I am proud of what we have accomplished together.” He also wrote, “While I feel a bit sorry for leaving first and perhaps adding to your burdens, I have no worries because I know you are here. In fact, you might do even better without me.”

Kim said, “When I am outside, I will speak even more about how hard you have worked and who the people were behind this government’s achievements,” and added, “I will wholeheartedly continue to cheer on the work you all will accomplish in the future.”

Kim submitted his resignation on August 31, and President Lee Jae-myung accepted it the following day. This marks the first cabinet-level replacement since the Lee Jae-myung Administration was launched in June last year. The background of the resignation includes factors such as financial market turmoil caused by single-stock leveraged exchange-traded funds (ETFs) and worsening public sentiment.

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