Discussion of policies between the Chief Policy Officer of the Presidential Office, the Policy Committee Chairperson of the ruling party, and the 1st Vice Minister of Strategy and Finance
An enhancement of the control function of the Presidential Office seems likely after the controversy over blocking overseas direct purchases
Financial Services Commission Chairman mentions “resumption of short selling” as a “personal hope”,
Seong Tae-yun, Director of Policy Office in the Presidential Office, is briefing on measures related to overseas direct purchases at the Presidential Office building in Yongsan, Seoul on the 20th. Photo by Seo Jae-hoon,
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, “On the 22nd, the Presidential Office and the ruling party held a ‘High-Level Government Policy Consultative Council’. It is a separate consultative body for coordinating ‘policy’ issues, distinct from the existing ‘High-Level Government Consultative Council’. The establishment of a new organization similar in name and fundamentally different in nature has led to interpretations such as ‘adjusting government departments’ ethics’. As seen in the recent controversy over blocking unapproved items of the Korea Certification (KC) Mark, it reflects the determination not to repeat the confusion of government policies that provoke public resentment through desk administration. “,
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, ‘A senior official of the Presidential Office explained the newly established ‘High-Level Government Policy Consultative Council’ on the 22nd, stating, “It is an intergovernmental body that will conduct more specific discussions from a policy perspective,” and added, “It will further enhance close communication between the ruling party and the government on policies closely related to public stability and livelihoods.” ‘,
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, “Attending the High-Level Government Policy Consultative Council are Seong Tae-yun, Chief Policy Officer of the Presidential Office, Jeong Jeom-sik, Policy Committee Chairperson of the ruling party, and Kim Byeong-hwan, 1st Vice Minister of Strategy and Finance. On the other hand, members of the existing High-Level Government Consultative Council have a higher status, including Prime Minister Han Deok-soo, Emergency Preparedness Commission Chairperson Hwang Wooyeo, and Presidential Secretary Jeong Jin-seok. The latter discusses overall state affairs, while the former is deemed more suitable for understanding public sentiments related to policies and coordinating policies. In addition, the government has also established a lower-tier body called the ‘Practical Government Consultative Conference,’ enabling the ruling party to coordinate detailed policies with officials from each ministry. “,
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, “The Presidential Office cited ‘strengthening public policy’ as the reason for establishing the policy consultative council. However, the prevailing observation is that it is aimed at adjusting government departments’ ethics in response to the direct purchase controversy. President Yoon instructed Chief Policy Officer Seong last weekend to prepare measures for preventing a recurrence, such as enhancing pre-policy reviews, strengthening public opinion collection through intergovernmental consultation, briefing on policies, and reevaluating the government’s policy risk management system.”,
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, ‘Moreover, it was revealed that the Presidential Office will actively intervene in cases where departmental policies or statements by senior officials cause confusion. Regarding this, the Presidential Office countered the remarks made by FSC Chairman Lee Bok-hyun about the resumption of short selling by stating, “We will not resume short selling until investor trust is restored.” Lee mentioned in an interview with reporters in the U.S. that “I plan to resume some short selling in June due to personal wishes or plans,” as well as stating, “Even though there are technical and institutional shortcomings regarding the resumption in June, it is necessary to communicate with the market about when to push for the resumption, considering stakeholders’ opinions.” This caused a stir in the market with the expectation of short selling resuming next month. ‘,
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, ‘A Presidential Office official clarified, “The FSC Chairman\’s remarks are understood as personal hopes that arose in the process of collecting stakeholders\’ opinions,” and drew a line by stating, “the government has a consistent stance on short selling,” further emphasizing, “Until illegal short selling is eradicated and a system that can gain investor trust is established, we will not resume short selling as our basic stance.” ‘,
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