With "Hong Nam-gi Was Not Careful... No Conflict Between Party and Government"

[Asia Economy Reporter Jeon Jin-young] Regarding the resignation turmoil of Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, ruling party members of the Democratic Party of Korea unanimously emphasized on the 5th that it was "not prudent" and that "there is no conflict between the party and the government." Deputy Prime Minister Hong announced on the 3rd at the National Assembly's Planning and Finance Committee that he had expressed his intention to resign over the controversy surrounding the strengthening of major shareholder requirements for capital gains tax on stock transfers. President Moon Jae-in rejected this and reaffirmed his trust.

[Image source=Yonhap News]

Democratic Party lawmaker Hong Ik-pyo appeared on KBS Radio's "Kim Kyung-rae's Strong Current Affairs" that morning and evaluated, "Regardless of the circumstances, it is inappropriate for a high-ranking public official to express such intentions about personnel matters on their own."

He also expressed regret over the role of Kim Sang-jo, Chief of the Blue House Policy Office. He said, "Naturally, the Ministry of Economy and Finance and the government may have different positions from the party," adding, "In that process, the role of Chief Kim, who should mediate, is regrettable. Such incidents keep repeating, but Chief Kim's presence is not visible." Lawmaker Hong added, "It is the mission of the Blue House Policy Office to smoothly mediate policy disagreements between the party and the government. Conversely, Chief Kim bears greater responsibility."

Democratic Party lawmaker Ko Yong-jin, a member of the Planning and Finance Committee, said on MBC Radio's "Kim Jong-bae's Focus" that "Deputy Prime Minister Hong's action was a way to take responsibility for the failure to push through major policies, but ultimately it was not prudent," calling it "an inappropriate incident."

Regarding the decision to maintain the current 1 billion won requirement, Lawmaker Ko said, "It is not at all about vote consciousness. All ministries and the party agreed that excessive liquidity in real estate should be drawn into the capital market," adding, "When the major shareholder tax requirement was lowered to 300 million won, the stock market was shaken and unstable."

Democratic Party lawmaker Yoon Kwan-seok said in an interview with YTN Radio's "Hwang Bo-seon's Start New Morning," "This controversy cannot be called a conflict between the party, government, and Blue House. However, there have always been differences of opinion," adding, "It is an overinterpretation to see it as a conflict structure. Even during the disaster relief fund, the financial authorities initially expressed difficulties but eventually agreed and implemented the policy."

Regarding the 'bureaucratic bypass theory' coming from some quarters including the Ministry of Economy and Finance, Lawmaker Yoon emphasized, "The party and government hold many policy consultations. Among them, there are many cases where the Ministry of Economy and Finance's opinions were reasonable and accepted," adding, "It is not a case where the party unilaterally pressures the financial authorities from its standpoint."

This content was produced with the assistance of AI translation services.