South Korea's presidential office Cheongwadae reported that South Korean President Lee Jae-myung approved the resignation of Chief Policy Secretary Kim Yong-beom on Tuesday. Kim Yong-beom proposed his resignation on Monday. This position is mainly responsible for coordinating the government's economic and domestic policy agenda. He is the central designer of many of the government's iconic policy initiatives. This resignation occurred after Lee Jae-ming's first large-scale cabinet reshuffle since taking office in June 2025. This reshuffle involved various departments such as finance, land, law, and national defense. During his tenure, Kim Yong-beom was criticized for hastily launching a single-stock leveraged exchange-traded fund linked to Samsung Electronics and SK Hynix. This type of product was launched in May with the original intention of attracting retail capital into the Korean stock market, but then intensified sharp market fluctuations, and regulators then strengthened investor protection rules. He once proposed using the excess tax revenue brought about by the artificial intelligence boom to establish a “national dividend.” The proposal sparked widespread discussion in the public and caused the market to speculate on how the government would dispose of this windfall tax benefit. Kim Yong-beom later stated that the plan was intended to distribute excess tax revenue and was not to use corporate profits. The presidential office has yet to announce the reason for Kim Yong-beom's resignation, nor has it announced his successor.

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