Lee Jae-myung: "Those Blocking the Development Profit Recovery Act Are Accomplices Dreaming of Hwacheon Daeyu"

"People Power Party Blocking Institutionalization of Development Profit Recovery... Was It a Daejangdong Political Offensive?"

Lee Jae-myung, the Democratic Party presidential candidate, is speaking at a dialogue session titled "Youth Ask, Lee Jae-myung Answers" with students from Seoul National University and regional national universities, held on the 20th at the Chungnam Contents Enterprise Support Center in Asan, Chungnam. Photo by Yonhap News

[Asia Economy Reporter Kim Seohyun] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, criticized the People Power Party by saying, "Those who block the Development Profit Recovery Act are the ones dreaming of 'Hwacheon Daeyu.'

On the morning of the 22nd, Lee posted on his Facebook, "Institutionalizing the recovery of development profits is the sincere way to reflect on the disappointment caused to the public by the 'Hwacheon Daeyu' issue, and I thought it was the way to prove that the Democratic Party can respond promptly to the demands of the people and the challenges of the times," he stated.

He pointed out, "I had my doubts, and as expected, the People Power Party, which criticized me for not recovering 100% of the development profits, is now obstructing the Democratic Party’s efforts to submit bills that limit private profits to the standing committee as they wished."

He continued, "Claims that a reflection period is necessary or that bipartisan agreement is needed are just excuses," adding, "Rep. Lee Heun-seung of the People Power Party even proposed a similar bill, so now talking about agreement proves that the People Power Party used the Daejang-dong issue solely for political attacks."

He then urged, "To the members of the People Power Party, if you are not dreaming of a 'second Hwacheon Daeyu or Kwak Sang-do,' please join forces with the Democratic Party as you have long demanded and take the lead in institutionalizing the recovery of development profits."

Earlier, on the 18th, the Democratic Party requested the submission of the three Development Profit Recovery Acts, including amendments to the Urban Development Act, Development Profit Recovery Act, and Housing Act, which aim to limit excessive profits of private developers, at the National Transportation Committee plenary session of the National Assembly. In response, members of the People Power Party refused to submit the bills, saying, "A reflection period is necessary, and bipartisan agreement must be reached," and "Accept the special prosecutor bill first."

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