People Power Party leaders demand President Lee Jae Myung step down

  • Jang Dong-hyeok called for President Lee Jae Myung to step down.
  • 54 trillion won in public losses were cited over single-stock leveraged ETFs.
  • People Power Party plans a Public Report Meeting at the National Assembly on the 22nd.

People Power Party leader Jang Dong-hyeok called for President Lee Jae Myung to step down after the president’s press conference on the 18th, accusing him of refusing the governance changes sought by the public and blaming others for failures. Jang also challenged Lee’s statement that he had no intention of seeking re-election, saying the president should make a direct declaration. He criticized Lee’s demand to remove the prosecution’s authority to cancel indictments from a special counsel bill concerning alleged fabricated indictments, and said the party would fight if the president forces through the appointment of Kim Seung-won as Minister of Justice nominee. Floor leader Jeong Jeom-sig separately called Lee a truly bad president and accused him of failing to accept responsibility for real estate, stocks and farmland controversies. Jeong said the party would pursue an ETF special counsel over alleged public losses of 54 trillion won linked to single-stock leveraged ETFs. The party has announced a government denunciation rally, called the Public Report Meeting, at the National Assembly on the 22nd.

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