Minsheng Party: "Gwangju Global Motors' 20 Billion Deficit Should Be Sold to a Strong Private Company"

Proposal Submission to Hyundai Motor Company

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The Minsheng Party is hastening the formation of the ‘Gwangju Global Motors Private Sale Promotion Council.’

The central party leadership and the Gwangju Metropolitan City Party announced on the 20th that they delivered a proposal for the private sale of Gwangju Global Motors to Hyundai Motor Company.

The Minsheng Party is raising its voice, saying that administrative waste must be prevented and competitiveness secured according to market principles, and that the company should be sold to a strong private enterprise.

Park Daewoo, chairman of the Gwangju City Party, stated, “Public officials frequently change their duties, so they lack expertise, and the market loses relevance when elections held every four years result in defeat. Large-scale investment projects change perspectives and directions depending on the administration. As of April, the national debt has exceeded 1,000 trillion won. In an era where strict fiscal rules are essential, Gwangju Global Motors without central government support has a very uncertain future.”

He continued, “Citizens are suffering from irresponsible and incompetent politics and administration,” and added, “Hyundai Motor Company must step forward before it is too late.”

He also emphasized, “Although the necessity of private sale was explained through a policy briefing on June 14, Gwangju City has yet to present an appropriate solution. Now, after delivering the proposal to Hyundai Motor Company, we will present the alternatives we have prepared depending on the situation.”

Lee Gwansung, co-representative who visited Gwangju for the first time since his appointment, also voiced his opinion.

Representative Lee said, “With my experience and knowledge of managing companies, I find Gwangju Global Motors’ policy incomprehensible. Ordinary people are struggling day by day, yet this project is incurring huge deficits and is likely to continue doing so. Pushing forward such a project is an abuse of power and arrogance. Citizens are barely getting by daily, and despite recording a deficit exceeding 20 billion won and facing an even more difficult future, I do not understand why such a reckless project is being pushed.”

Co-representative Kim Jeonggi also said, “The Gwangju City Party is putting everything on the line to fight for the private sale of Gwangju Global Motors, concentrating all party efforts. Chairman Park Daewoo will act in Gwangju, and we will fulfill our respective roles in Seoul. We will visit Hyundai Motor’s headquarters in Yangjaedong to properly deliver the proposal reflecting the will of Gwangju citizens.”

He added, “I visited small and medium-sized enterprises during a one-night, two-day trip to listen to the voices of the people in Honam. We will continue to do our best for what Honam needs and entrusts us with. The Minsheng Party, which was supported by 450,000 members, is rising again. Please watch over the policy party Minsheng Party.”

Meanwhile, the event, which began with the ‘March for the Beloved,’ proceeded in the order of appeals by co-representatives Lee Gwansung and Kim Jeonggi, the Gwangju Declaration, and the delivery of the proposal to Hyundai Motor Company by Chairman Park Daewoo.

After the press conference, the Minsheng Party delegation continued their one-night, two-day schedule with a visit to the May 18 National Cemetery, a field trip to small and medium-sized enterprises in the Jeonnam region, a discussion meeting on political situation analysis and the party’s direction, and a tour of the Jeonbuk region.

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