Opposition Launches Intensified Attacks on Yong Hyein and Kim Seungwon in Cabinet Reshuffle... Also Demands ETF Parliamentary Investigation

Opposition Demands Withdrawal of Minister Nominees
Continued Allegations Over Leveraged ETF Scandal

Following the partial cabinet reshuffle at the Blue House, the broader opposition bloc is intensifying its attacks on Yong Hyein, the nominee for Minister of Gender Equality and Family, and Kim Seungwon, the nominee for Minister of Justice. Despite the resignation of Kim Yongbeom, the Blue House policy chief, demands for a parliamentary investigation into single-stock leveraged exchange-traded funds (ETFs) are also escalating.

Jang Donghyuk, leader of the People Power Party, is attending the Supreme Council meeting held at the National Assembly on the 3rd, delivering a opening remark.

Jang Donghyuk, leader of the People Power Party, raised the level of criticism at the Supreme Council meeting on the 3rd, criticizing Yong for not resigning her seat as a proportional representative lawmaker. Jang stated, "Yong Hyein is not just a lawmaker from a minority party, a representative of the Basic Income Party—she is the very embodiment of leftist hypocrisy and political business as usual," adding, "Her entire demeanor reflects that of the Lee Jaemyung administration itself." He further insisted, "Her appointment must be immediately withdrawn."

Senior figures within the People Power Party also continued to voice concerns. Lawmaker Yoon Sanghyun stated on his social media that, "If politicians who have enjoyed privilege are put forward as youth representatives before those young people who have endured 'Hell Joseon,' they will feel scammed by political profiteers." Lawmaker Ahn Cheolsoo commented, "If the administration knew about Representative Yong's intention to hold dual offices and still nominated her, it makes them accomplices steeped in privilege; if they did not know, it shows incompetence and a disregard for public expectations."

The opposition's attacks on Kim Seungwon are also intensifying. Han Donghun, independent lawmaker, not only raised suspicions regarding Kim Seungwon's lobbying of the Ministry of Food and Drug Safety, but also brought up additional allegations of illicit funds in the Gyeonggi provincial branch, questioning Kim’s suitability. The People Power Party is also calling for the withdrawal of Kim Seungwon’s nomination. Lawmaker Na Kyungwon criticized, "(Kim Seungwon) is utterly unfit to lead Korea's justice administration."

Amid these developments, allegations and calls for a parliamentary investigation regarding single-stock leveraged ETFs have persisted even after the resignation of Policy Chief Kim Yongbeom. People Power Party lawmakers belonging to the National Assembly's Political Affairs Committee held a press conference at the National Assembly on this day, stating, "If there were unjust interests or external influences in the policy-making process, this is not merely a failed policy. It constitutes an ETF gate that impacts public assets and trust in the capital markets," declaring, "We will initiate the procedure to demand a parliamentary investigation."

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