President Yoon Faces Prosecution Complaints and Kim Geon-hee Special Prosecutor Bill... Opposition Launches Full-Scale Offensive

Denies Stock Manipulation During Candidate Yoon's Campaign
Considered Dissemination of False Information
Special Prosecutor Law Under Fast-Track Review
Appointed Executive Committee Member Park Guyong

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] The Democratic Party of Korea has decided to file a complaint with the Seoul Central District Prosecutors' Office against President Yoon Seok-yeol for allegedly disseminating false information about First Lady Kim Geon-hee. Alongside this, the party plans to specifically consider designating the so-called ‘Kim Geon-hee Special Prosecutor Act’ as a fast-track agenda item in the National Assembly’s Legislation and Judiciary Committee. This move appears to be part of a full-scale opposition offensive linking the investigation of President Yoon and the Kim Geon-hee Special Prosecutor Act, following party leader Lee Jae-myung’s demand for a prosecution appearance.

Park Sung-joon, the Democratic Party’s floor spokesperson, said at a press meeting after the Supreme Council meeting on the 5th, "During his candidacy, President Yoon was questioned about allegations related to his wife’s stock price manipulation, which he denied. Now, it is clear that the stock price manipulation is a fact, and his statement constitutes the spread of false information," adding, "We will file a complaint with the Central District Prosecutors' Office." Democratic Party lawmaker Kim Seung-won, who participated in drafting the complaint, explained, "Since the crime was committed during the candidate period, the president cannot be prosecuted while in office. The statute of limitations will restart after leaving office, and he can be punished at that time."

The processing speed of the Kim Geon-hee Special Prosecutor Act is also expected to accelerate. At the Supreme Council meeting that day, Park Hong-geun, the Democratic Party floor leader, said, "We will actively seek ways to uncover the truth about the public suspicions, including the First Lady’s stock price manipulation allegations, at the afternoon party meeting." Supreme Council member Jung Cheong-rae also supported the push for the special prosecutor act, stating, "Party leader Lee Jae-myung does not need to comply with the prosecution’s summons. This is clear political oppression," and added, "Although Kim Geon-hee admitted to false credentials, she was cleared of charges. This has caused public outrage sufficient to warrant a special prosecutor."

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 5th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 5th and is talking with Supreme Council member Jeong Cheong-rae during the meeting. Photo by Yoon Dong-joo doso7@

However, even if Democratic Party members of the Legislation and Judiciary Committee designate the Kim Geon-hee Special Prosecutor Act as a fast-track item, the likelihood of it being tabled is low since Kim Do-eup of the People Power Party chairs the committee. Furthermore, even if the bill passes the National Assembly by stripping the committee chair’s presiding rights, President Yoon’s veto could nullify it. Nevertheless, the Democratic Party’s push for the Kim Geon-hee Special Prosecutor Act is interpreted as an attempt to increase pressure on the People Power Party and secure leadership of the second half of the National Assembly.

The Kim Geon-hee Special Prosecutor Act, originally proposed by lawmaker Kim Yong-min last month, includes five allegations: the Deutsche Motors stock price manipulation suspicion, career fabrication, bribery-like sponsorship related to exhibitions, budget waste in the presidential residence interior construction, and suspicions related to accompanying civilian visits abroad.

The People Power Party maintains that both the Kim Geon-hee Special Prosecutor Act and the complaint against President Yoon are political offensives. Seong Il-jong, the party’s policy committee chairman, said on the radio that day, "They should just be investigated for their own issues; why do they need a special prosecutor?" He added, "The Deutsche Motors stock price manipulation was thoroughly investigated for years by pro-Moon prosecutors, but they found nothing. Now they want a special prosecutor based on nothing. That’s impossible." Floor leader Kwon Seong-dong was reserved on the matter, saying, "We need to see the Democratic Party’s afternoon party meeting situation first."

On the same day, the Democratic Party appointed Park Gu-yong, a professor of philosophy at Chonnam National University, as a nominated Supreme Council member. Professor Park has been involved in humanities movements with citizens through the Gwangju Citizens’ Freedom University in Gwangsan-gu, Gwangju, and has participated in the district’s policy planning projects. Additionally, the party established internal committees such as the Yoon Seok-yeol Regime Political Oppression Countermeasures Committee, the Livelihood Economic Crisis Countermeasures Committee, and the National Safety Disaster Countermeasures Committee. Park Beom-gye was appointed chair of the Political Oppression Countermeasures Committee, Lee Seong-man for the National Safety Disaster Committee, and Kim Tae-nyeon for the Livelihood Economic Crisis Committee. The Democratic Party also appointed lawmaker Kim Byung-wook as deputy chair of the Policy Committee, and lawmakers Lee Hae-sik and Kim Nam-guk as deputy general secretaries of organization and future affairs, respectively.

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 5th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Image source=Yonhap News]

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