The People Power Party launched a barrage of criticism on July 20 against the economic policies of the Lee Jae-myung administration, calling for the dismissal of Kim Yong-beom, the head of the Presidential Policy Office.
During a Supreme Council meeting at the National Assembly, party leader Jang Dong-hyuk urged a shift in economic policy, stating, "With the base interest rate raised, the burden on citizens has increased by 5.1 trillion won, yet the government has declared an era of an 800 trillion won budget."
He pointed out the contradiction of raising interest rates while expanding the budget, saying, "While telling citizens to tighten their belts, the government is recklessly spending money."
Jang criticized Kim for appearing on a broadcast the previous day, stating, "As citizens' wallets are being emptied by single-stock leveraged ETFs, he insisted there would be no delisting without even a word of apology," adding, "Ultimately, the goal of the Lee Jae-myung regime is a 'rich government and poor citizens.'"
Jeong Jeom-sik, the floor leader, also called for Kim's dismissal, highlighting the turmoil in the stock market since the launch of single-stock leveraged ETFs in May, which has seen 18 circuit breakers and five trading halts as of July 16.
He emphasized, "All of this is the government's fault. They mistook the rise in the KOSPI as their achievement and recklessly pushed for the introduction of leverage. The policy chief cannot simply cover up this mess with a few band-aid solutions as if nothing happened."
Jeong urged, "If there is any intention to normalize the stock market, it should be shown first through personnel changes. The president must dismiss Kim."
Additionally, Jang expressed concerns regarding the government's plan to consolidate military academies, stating, "Even Venezuela's dictator Chavez consolidated military academies in 2010 to politicize the military and use it as a tool for his regime. National security is neither an ideological issue nor a political one," and called for the halt of the consolidation.
During a Supreme Council meeting at the National Assembly, party leader Jang Dong-hyuk urged a shift in economic policy, stating, "With the base interest rate raised, the burden on citizens has increased by 5.1 trillion won, yet the government has declared an era of an 800 trillion won budget."
He pointed out the contradiction of raising interest rates while expanding the budget, saying, "While telling citizens to tighten their belts, the government is recklessly spending money."
Jang criticized Kim for appearing on a broadcast the previous day, stating, "As citizens' wallets are being emptied by single-stock leveraged ETFs, he insisted there would be no delisting without even a word of apology," adding, "Ultimately, the goal of the Lee Jae-myung regime is a 'rich government and poor citizens.'"
Jeong Jeom-sik, the floor leader, also called for Kim's dismissal, highlighting the turmoil in the stock market since the launch of single-stock leveraged ETFs in May, which has seen 18 circuit breakers and five trading halts as of July 16.
He emphasized, "All of this is the government's fault. They mistook the rise in the KOSPI as their achievement and recklessly pushed for the introduction of leverage. The policy chief cannot simply cover up this mess with a few band-aid solutions as if nothing happened."
Jeong urged, "If there is any intention to normalize the stock market, it should be shown first through personnel changes. The president must dismiss Kim."
Additionally, Jang expressed concerns regarding the government's plan to consolidate military academies, stating, "Even Venezuela's dictator Chavez consolidated military academies in 2010 to politicize the military and use it as a tool for his regime. National security is neither an ideological issue nor a political one," and called for the halt of the consolidation.
* This article has been translated by AI.
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