South Korea's People Power Party chief Jang Dong-hyuk attacks government over security, economy and ETF fallout

People Power Party (PPP) leader Jang Dong-hyuk used a National Assembly meeting to denounce the Lee Jae‑myung administration, claiming the rapid return of Ambassador Kwon Gyung‑hwa signals a crisis in the U.S.–South Korea alliance. He said the government’s defence and security policies have lost public trust and warned that a weakened alliance would benefit North Korea.

Jang also criticised the administration’s economic measures, condemning a single‑stock leveraged ETF that caused investor losses and demanding the resignation of policy‑staffer Kim Yong‑beom, who defended the product. He mocked President Lee’s recent apartment sale, labeling the associated mortgage arrangement a “joint‑mortgage loophole” and urging broader regulatory reform.

In a separate lunch meeting, PPP parliamentary leader Jung Jeom‑sik and Reform Party head Lee Jun‑seok discussed the abolition of the supplementary investigation authority and other legislative concerns, though no concrete coalition plan was announced. The intra‑party dynamics highlight a split between Jang’s public rallies and Jung’s parliamentary tactics, raising questions about PPP’s strategic cohesion.