News / Korea / yonhap_finance
PPP Demands Probe into Leverage ETF Policy Following Kim Yong-beom's Resignation
Finance · Investment Banks/Brokers · yonhap_finance · 2026-09-01
The People Power Party (PPP) labels the resignation of policy chief Kim Yong-beom as a 'tail-cutting' tactic and calls for a parliamentary probe into ETFs.
What Happened
Resignation and Political Backlash: The People Power Party has strongly criticized the resignation of former policy chief Kim Yong-beom, labeling it a 'tail-cutting' maneuver to avoid accountability. Party leadership argues that this move is a superficial attempt to deflect blame for the administration's failed economic policies.
Call for Parliamentary Investigation: The opposition party is pushing for a full parliamentary investigation and a special counsel probe into the introduction of single-stock leverage ETFs. They claim these financial products have turned the stock market into a gambling den and are preparing to submit a formal request for an inquiry.
Demands for Further Accountability: Beyond the resignation of Kim, party officials are calling for the dismissal of other key figures involved in the ETF policy, including the heads of the Financial Services Commission and the Financial Supervisory Service. They argue that the entire economic team needs a complete overhaul.
Broader Calls for Reform: The PPP emphasized that the resignation should serve as a catalyst for a total shift in the government's economic approach. They continue to pressure the administration to replace current economic advisors and reconsider other controversial cabinet nominations.