Ruling Party Urges Resignation of Blue House Policy Chief Kim Yong-beom... Citing Economic Stagnation Responsibility

On the 11th, the People Power Party called for the resignation of Blue House Policy Chief Kim Yong-beom, holding him accountable for the failure of the government's economic policies. In a commentary, Chief Spokesperson Choi Eun-seok emphasized Mr. Kim's moral responsibility for the policy failure, noting that Mr. Kim was the figure who led the design and implementation of both real estate and financial market policies more aggressively than anyone else.

Chief Spokesperson Choi mocked Mr. Kim, saying his confidence had vanished. He pointed out that in a briefing the previous day, Kim announced that President Lee Jae-myung would personally chair a real estate policy debate, stating that "the government does not assume it knows all the answers." This contrasted with Kim's previous stance of lecturing the public by describing high inflation, high interest rates, and high exchange rates as the "cost of success." The People Power Party argued that the real estate policy debate should serve as an opportunity to review and inspect the government's failed policies.

The pressure on Mr. Kim to resign and the discussions surrounding the policy debate are expected to serve as a barometer for gauging the future direction of the government's economic policy.