Kim Yong-beom Resigns as Policy Chief

Kim Yong-beom, the policy chief of the Blue House, is resigning. Chief Spokesperson Kang Yu-jeong announced on the 1st that Kim expressed his intention to resign on the 31st, and President Lee Jae-myung accepted his resignation. Kim, a seasoned economic bureaucrat who has served as a senior economist at the World Bank, secretary general of the Financial Services Commission, and first vice minister of the Ministry of Economy and Finance, was appointed as the first policy chief of the Lee Jae-myung administration. Before his appointment, he was the representative of Hashed Open Research, a digital asset company, and showed a favorable stance towards digital assets. However, suspicions have been raised that the restrictions on major shareholders of digital asset exchanges, which the Financial Services Commission is promoting, were directed by Kim. This regulation limits the shareholding of major shareholders in exchanges to 20-34%. In February, during a meeting of the National Assembly's Political Affairs Committee, lawmaker Kim Sang-hoon claimed that there were allegations of external pressure from Kim, but the chairman of the Financial Services Commission denied this. Lawmaker Kim pointed out that a statement opposing the shareholding regulation was issued, and that applying it retroactively could obscure accountability. He also questioned whether Kim had structured policies in favor of Hashed. The chairman of the Financial Services Commission responded that he had not had any specific company or individual in mind.

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