LH Full-scale Response.. Kim Tae-nyeon: "Will Accelerate the Public Officials Conflict of Interest Prevention Act"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the floor strategy meeting held at the National Assembly on the 9th and delivering opening remarks. Photo by Yoon Dong-joo

[Asia Economy Reporter Koo Chae-eun] Kim Tae-nyeon, floor leader of the Democratic Party of Korea, stated that he will take a tough stance on the LH land speculation allegations by enacting the Public Officials Conflict of Interest Prevention Act, restricting land transactions by public institutions, and recovering unjust profits.

At the floor strategy meeting on the 9th, Kim said, “We will accelerate the Public Officials Conflict of Interest Prevention Act,” adding, “This law was first submitted to the National Assembly in 2013 but has been repeatedly reintroduced and withdrawn; this time, we will reach a conclusion.”

He said, “Since it is a statutory law, procedures such as public hearings must be followed, but related discussions have been ongoing for a long time,” and added, “During the previous political situation, due to the case involving Rep. Park Deok-heum’s receipt of thousands of billions of won in orders from supervised agencies, both ruling and opposition parties made a promise, but the so-called discussions could not proceed. I expect the People Power Party to show a changed attitude in light of this speculation incident. We also request the opposition party’s cooperation to start with scheduling public hearings.”

Kim especially stated, “I ask the People Power Party not to use this incident as a political dispute but to work together to prepare practical measures to eradicate corruption in public institutions.”

The ‘Park Deok-heum order case’ refers to the incident last year in which Rep. Park Deok-heum, a member of the National Assembly’s Land, Infrastructure and Transport Committee, was accused of receiving preferential orders worth thousands of billions of won from supervised agencies through a construction company registered under his family’s name.

He also announced that he will speed up legislation to confiscate speculative profits. Kim said, “The Democratic Party has also proposed multiple amendments to the Special Act on Public Housing to allow confiscation of speculative profits. The Public Officials Ethics Act, which significantly expands the scope of public institution executives subject to asset registration, has also been proposed,” emphasizing, “We will prioritize the LH speculation prevention bills within this National Assembly session to enable recovery of unjust profits and thorough management and supervision.”

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