Kim Yong-Beom Breaks Silence on Policy Controversies After Resignation
Kim said the government never encouraged retail investors to buy leveraged ETFs and defended housing curbs as necessary to restrain demand.
8 Articles
8 Articles
Korean Policy Chief Who Backed Leveraged ETFs Steps Down
Kim Yong-beom, the South Korean presidential adviser who backed the introduction of leveraged single-stock ETFs and floated the idea of a “citizen dividend” funded by excess tax revenue from the artificial-intelligence boom, has stepped down as the government tries to shore up its sinking approval ratings.
Chief of Staff Kim Yong-Bum's Resignation: A Need to Reorganize to Prevent a Vacuum in State Affairs
Kim Yong-beom, Chief of the Presidential Policy Office, abruptly resigned on the 1st. Stock market turmoil caused by the introduction of single-stock leveraged exchange-traded funds (ETFs) and mounting public criticism over real estate tax reform are cited as the reasons for his resignation. Instability in the stock and real estate markets is being cited as the cause of the recent sharp decline in President Lee Jae-myung's approval ratings.
(Seoul = Yonhap News) Reporter Oh Kyu-jin = On the 1st, the Cho Kuk Innovation Party [mentioned] former Blue House President Kim Yong-bum, who is known to have spearheaded the introduction of the so-called 'single-stock leveraged exchange-traded fund' (ETF)...
The People Power Party called for a parliamentary investigation and a special prosecutor into single-stock leveraged ETFs (Exchange Traded Funds). Regarding the resignation of Kim Yong-bum, Chief of the Presidential Policy Office, they stated that Financial Services Commission Chairman Lee Won-geon and Financial Supervisory Service Governor Lee Chan-jin should also step down. In a Facebook post on the 1st, People Power Party Leader Jang Dong-hyu…
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