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Korean opposition seeks three officials' resignations over disputed policies

🇰🇷 South Korea, Seoul 21:48 Politics Business3 Tech Official updated 1 d ago first reported by 연합뉴스

In short

People Power Party floor leader Jeong Jeom-sik (정점식) called on October 11 for the resignations of the agriculture minister, interior minister and Financial Services Commission chairman. He blamed them for what he described as failures involving leveraged ETFs, a farmland survey and the launch of a serious-crime investigation agency.

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People Power Party floor leader Jeong Jeom-sik (정점식) called for three senior officials to resign at a National Assembly press briefing in Seoul on October 11. He demanded that agriculture minister Song Mi-ryeong (송미령), interior minister Yun Ho-jung (윤호중) and Financial Services Commission chairman Lee Eok-won (이억원) take responsibility for policies he described as three disasters. Reviewing the first week of parliamentary oversight hearings, he criticized the introduction of single-stock leveraged exchange-traded funds, a nationwide farmland survey and the launch of the serious-crime investigation agency. [ 1 , 2 , 3 , 4 ]

Jeong alleged that the leveraged ETF policy had caused losses amounting to tens of trillions of won. He criticized Lee's explanation that the commission had made the decision itself rather than acting on presidential-office instructions, arguing that Lee should therefore resign. On farmland, Jeong said the agriculture ministry announced supplementary measures immediately after its parliamentary hearing. He alleged that the timing was intended to avoid criticism rather than minimize harm to farmers. Regarding the new investigation agency, he criticized Yun's reported statement that opening the agency was not itself the objective. Electronic Times reported Jeong's claim that staffing was only two-thirds of the authorized level and that the agency lacked its own holding cells and video-recording interview rooms. [ 1 , 2 , 3 , 4 ]

Jeong said the government had failed to fulfill promises to ensure the agency could carry out its functions from its first day and prevent operational gaps. He also said his party would investigate alleged politically aligned appointments associated with Seongnam and Gyeonggi during the remaining hearings. He urged the officials, if they disputed the resignation demands, to identify who was responsible for the policies. The reports relay Jeong's criticisms and demands; they do not include direct responses from the three officials to the briefing. [ 2 , 3 , 4 ]

Why it matters

The demands followed the first week of parliamentary oversight hearings on the government. Jeong said his party would continue examining responsibility for the policies and alleged politically aligned appointments during the remaining hearings.

Key facts

  • Jeong made the demands at a National Assembly press briefing on October 11. [ 1 , 2 , 3 , 4 ]
  • He sought the resignations of agriculture minister Song Mi-ryeong (송미령), interior minister Yun Ho-jung (윤호중) and Financial Services Commission chairman Lee Eok-won (이억원). [ 2 , 3 , 4 ]
  • He criticized single-stock leveraged ETFs, the nationwide farmland survey and preparations for the serious-crime investigation agency. [ 1 , 2 , 3 , 4 ]

Confirmed by several sources

  • Jeong publicly demanded that the three officials resign over the policies. [ 2 , 3 , 4 ]

Still unclear

  • The officials' responses and the substantiation of Jeong's allegations. The supplied reports focus on his briefing and do not provide direct replies or independent findings on the alleged failures.

What local media are saying

Technology mediaElectronic Times reported the resignation demands and Jeong's additional criticism of foreign and security policy. [ 1 ]
Business mediaBusiness outlets focused on the three policies, resignation demands and criticism of government accountability. [ 2 , 4 ]
Official sourcesYonhap detailed Jeong's assessment of the first week of hearings and his plan to examine alleged politically aligned appointments. [ 3 ]

Timeline, local time

  1. Yonhap reported Jeong's October 11 briefing and resignation demands. [ 3 ]