Kim Tae-nyeon Proposes Full Investigation of All 300 Lawmakers for Public Officials' Speculation

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 Jeon Jin-young] Kim Tae-nyeon, Acting Leader of the Democratic Party of Korea, proposed a full investigation of all 300 members of the National Assembly to the Speaker of the National Assembly and the People Power Party on the 11th regarding the speculation controversy involving the Korea Land and Housing Corporation (LH).

At the policy coordination meeting held at the National Assembly that morning, Acting Leader Kim said, “We cannot tolerate speculation and corruption by public officials who use their positions for private gain,” and added, “We must initiate a full investigation from public institution executives to high-ranking officials and members of the National Assembly to reestablish fair order in our society.”

He emphasized, “The Democratic Party proposes a full investigation of all 300 members of the National Assembly to the Speaker and the People Power Party. To clean the lower streams, the upper streams must be purified.”

He continued, “Only an investigation without sanctuary and punishment without exception can prevent speculation by public officials,” and stated, “I hope this will be an opportunity to resolve public distrust and restore fair order in our society through a full investigation of real estate ownership and transactions of National Assembly members and their spouses’ direct ascendants and descendants.”

In addition, Acting Leader Kim said, “The Democratic Party will prioritize the enactment of five laws to prevent speculation and corruption by public officials.” He said, “We will impose comprehensive and effective sanctions through amendments to the Public Housing Act,” and “We will recover unfair profits up to five times and impose aggravated punishment.”

He added, “We will establish a thorough preemptive prevention system through the Public Officials Ethics Act and the Land and Housing Corporation Act,” and “We will fundamentally prohibit land transactions by related employees and mandate real estate registration.”

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