Seoul: Presidential chief of staff for policy Kim Yong-beom has offered to resign, and President Lee Jae Myung has accepted his resignation, a presidential spokesperson said Tuesday. Kim tendered his resignation the previous day, and Lee accepted it earlier Tuesday, spokesperson Kang Yu-jung said at a press briefing.
According to Yonhap News Agency, the presidential spokesperson did not provide a reason for Kim's resignation, but it comes amid persistent criticism that single-stock leveraged exchange-traded funds (ETFs) launched in May under his leadership may be amplifying stock market volatility. Kim has been serving as presidential policy chief since the launch of the Lee administration in June last year.