Bold Acceptance Gesture by Ruling and Opposition Parties, What's Behind It... A Special Prosecutor They Can't Appoint Before the Presidential Election?

Ruling and Opposition Presidential Candidates Show Willingness to Accept Generously
"Unconditionally" and "Quick Acceptance" Emphasized

Considering Investigation Scope, Procedures, and Duration
Judged Realistically Impossible Before Election
Growing Suspicions Only Worsen Political Disputes

[Asia Economy Reporters Oh Ju-yeon and Geum Bo-ryeong] Although the presidential candidates from both the ruling and opposition parties have each declared their willingness to accept special prosecutors (special investigation) regarding the ‘Daejang-dong development preferential treatment’ and the ‘accusation manipulation suspicion,’ respectively, their true intentions seem to be that such special investigations are ‘practically impossible.’ Experts also analyze that the announcement of the ‘generous acceptance of special investigations’ by both parties, given the difficulty of concluding the special investigation before the presidential election, can be seen as media play to say ‘I am innocent.’

[Image source=Yonhap News]

On the 19th, the People Power Party (PPP) continued from the previous day’s statement by Lee Jae-myung, the Democratic Party presidential candidate, accepting the special investigation, and pressured for an ‘unconditional’ special investigation and ‘quick acceptance.’ Kim Ki-hyun, the PPP floor leader, said at the party’s floor strategy meeting, “We welcome Candidate Lee’s acceptance of the Daejang-dong special investigation,” but added, “We must cooperate to pass the special investigation law even today so that the special investigation results come out before the presidential election.” The delay in introducing the special investigation is perceived to be due to the Democratic Party or Candidate Lee’s passive response. Kwon Seong-dong, the party secretary-general, also said, “Candidate Lee is pretending to have made a generous concession, but the Democratic Party is attaching various conditions and using delay tactics; this is nothing more or less than a trick to postpone the special investigation,” warning, “Protecting Candidate Lee could even threaten the survival of the Democratic Party.” Kwon’s remarks are interpreted as a caution against the Democratic Party’s move to include Yoon’s Busan Savings Bank case within the scope of the special investigation.

On the other hand, the Democratic Party revised its strategy to expand the scope of verification of Candidate Yoon not only to the accusation manipulation suspicion but also to family corruption involving his wife and mother-in-law. On the same day, the Democratic Party launched the ‘Yoon Seok-yeol Family Corruption National Verification Special Committee’ and upgraded the existing ‘Accusation Manipulation National Disorder Truth-Finding Task Force’ to a party special committee, signaling a sharp scrutiny of Candidate Yoon. At the first meeting, Party Leader Song Young-gil said, “The wife of the president-elect, who will become the first lady, is also a subject of verification no less than the candidate,” adding, “We will thoroughly examine issues such as Kim Geon-hee’s stock manipulation and private equity fund matters one by one.” Yoon Ho-jung, the floor leader, emphasized, “There has never been a candidate like this before. It is the first time in Korean political history that an entire family is embroiled in so many corruption and bribery suspicions,” and said, “We will concentrate our efforts on a thorough truth-finding investigation.”

However, even if both parties maintain the principle of introducing a ‘double special investigation,’ the possibility of smooth negotiations going forward seems slim. The Democratic Party will highlight the Busan Savings Bank’s bad loan suspicions in the Daejang-dong case, which is suspected to involve Candidate Yoon, but the People Power Party is unlikely to respond positively. In summary, the Democratic Party aims to make the ‘Daejang-dong suspicion of Candidate Lee ? Busan Savings Bank suspicion of Candidate Yoon ? accusation manipulation suspicion of Candidate Yoon ? family-related suspicion of Candidate Yoon’ all subjects of the special investigation, while the People Power Party’s strategy is to limit it to ‘Daejang-dong suspicion of Candidate Lee ? accusation manipulation suspicion of Candidate Yoon.’

Political consultant Kim Hyo-tae said, “Even if Candidate Yoon accepts the accusation manipulation special investigation, it is uncertain whether he will accept the Busan Savings Bank case. If the People Power Party does not accept this, Candidate Lee will shift from defense to offense,” and predicted, “It may be difficult to reach an agreement on the special investigation between the two parties.” Um Kyung-young, director of the Era Spirit Research Institute, pointed out the timing issue, saying, “Even if the special investigation starts immediately, the investigation results will not come out before the presidential election.” Political commentator Hwang Tae-soon shared the same view, saying, “By the time the special investigation law is voted on, the special prosecutor selected, and the office set up, the election will already be over.” Professor Choi Chang-ryeol of Yongin University warned that “In conclusion, no decision will be made, and only suspicions will intensify throughout the election process,” cautioning that the presidential election will be engulfed in the special investigation issue.

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