Kim Yong-beom: Quick Implementation of Leverage Measures, Yellow Envelope Law Can Be Adjusted Later

Kim Yong-beom: Quick Implementation of Leverage Measures, Yellow Envelope Law Can Be Adjusted Later

Kim Yong-beom, head of the Blue House Policy Office, stated on July 22 that President Yoon Suk-yeol's directive to enhance the single-item leverage exchange-traded fund (ETF) system was not a call for new measures but rather an inquiry about the timing of previously announced actions. He emphasized the need for swift implementation of these significant changes, noting that it is essential to assess their effects before considering any further adjustments.
In response to a question during a briefing, Kim said, "The measures we announced previously include substantial changes, so prompt execution is a priority." He added, "We should evaluate the effects and consider necessary adjustments, but discussing additional measures at this point would be premature."
Regarding previous comments about aligning the ETF's net asset value with market prices, he suggested that there might be room for flexible interpretation and dialogue between authorities and the industry.

Lee Byung-tae: President Yoon Should Apologize for the Baekjae High School Incident

Lee Byung-tae, former vice-chairman of the Regulatory Reform Committee, called for President Yoon to apologize for the controversy surrounding the Baekjae High School baseball team's 'Starbucks cheer' incident.
In a post on Facebook, Lee stated, "The root cause of the Baekjae High School incident lies with President Yoon. His irresponsible, conspiracy-theory perspective on social media, mocking past unfortunate events during the democratization process, initiated this issue."
He described this as an example of the arrogance of a power holder acting as a historical judge, and he conveyed to the President's Office that the President should apologize.
Lee added, "I don't know if that message was conveyed, but the instigator has remained silent so far."
Previously, President Yoon criticized Starbucks Korea's 'Tank Day' event on social media, expressing anger over what he called the 'inhumane behavior of a low-quality merchant' and asserting that moral, legal, and political responsibilities should follow.

Blue House: US Additional Tariffs Will Not Exceed Agreed Rates; Coupang is a Secondary Issue

Wi Sung-lak, head of the Blue House National Security Office, stated on July 22 that while there is a possibility of the United States imposing additional tariffs on South Korea under Section 301 of the Trade Act, these tariffs will not exceed the rates previously agreed upon by both countries.
During a briefing at the Blue House, Wi responded to questions about the 301 issue, saying, "I believe there could be additional tariffs under Section 301, but we generally understand that even if such measures are taken, they will not exceed the significant rates agreed upon between South Korea and the U.S."
The U.S. government has been using Section 301, often referred to as 'Super 301,' to pressure neighboring countries. This law allows for retaliatory tariffs against foreign unfair or discriminatory trade practices that burden U.S. commerce. Countries that fail to effectively block imports of products made with forced labor may face additional tariffs of 10% or 12.5%, with South Korea included among those facing the 12.5% tariff.

Wi Sung-lak: Delay in Announcing National Diplomatic Academy Hacking Due to Security Concerns

Wi Sung-lak addressed the hacking incident involving the National Diplomatic Academy's educational information system on July 22, explaining that the delay in publicizing the incident was due to urgent security matters that needed to be addressed.
During a briefing at the Blue House, he stated, "The reason we could not announce the facts immediately was that there were security issues among the hacked information that required urgent action." He clarified that the delay in announcing the incident, which was made public on July 20, was not an attempt to conceal anything.
The Ministry of Foreign Affairs revealed on July 20 that the National Diplomatic Academy's system was hacked in April of the previous year, and it took about ten months to identify the issue and investigate the damage. This has led to criticism regarding the five-month delay in disclosing the personal data breach after the incident was recognized.

Foreign Minister Park Hyun: ASEAN is a Reliable Partner; Strengthening Cooperation in AI and Cultural Industries

Foreign Minister Park Hyun stated on July 22 that ASEAN is a reliable partner, emphasizing the need to strengthen cooperation in areas such as artificial intelligence (AI), cultural industries, and transnational crime response.
Speaking at the 29th Korea-ASEAN Foreign Ministers' Meeting in Manila, Philippines, Park noted, "In the face of global supply chain disruptions, instability in the Middle East, and rapid technological advancements, no country can ensure prosperity and security alone."
He highlighted that President Yoon has consistently emphasized the importance of solidarity among reliable partners, stating that ASEAN is precisely such a partner for South Korea.
Park outlined the 'Korea-ASEAN Comprehensive Strategic Partnership (CSP) Vision' centered on being a contributor to dreams and hopes, a springboard for growth and innovation, and a partner for peace and stability, seeking support from ASEAN member states.

* This article has been translated by AI.