Democratic Party to Finalize Review of 'Kim Geon-hee Special Prosecutor Act' at Today's Supreme Council Meeting... Focus on Stock Manipulation and False Academic Credentials

Separate 추진 from National Audit 대상
Possible 발의 after 의원총회 report
Ruling Party "Kim Geon-hee Special Prosecutor Act, Distraction Tactic"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jun-yi] The Democratic Party of Korea has decided to propose the 'Kim Geon-hee Special Prosecutor Act' before the Chuseok holiday and has entered the final review stage. The draft bill is reported to focus primarily on allegations of stock price manipulation and false academic and career credentials involving First Lady Kim Geon-hee.

According to the Democratic Party on the 7th, the party's floor leadership discussed the Kim Geon-hee Special Prosecutor Act, drafted by the party policy committee, at the Supreme Council meeting and planned to report it at the afternoon party members' meeting. If there are no objections, the bill is scheduled to be proposed on the same day.

The bill centers on allegations of stock price manipulation and false academic and career credentials by the First Lady. Last month, the Democratic Party had already proposed a bill titled 'Act on the Appointment of a Special Prosecutor for the Investigation of Stock Price Manipulation and False Career Incidents Involving President Yoon Seok-yeol’s Spouse Kim Geon-hee,' led by Representative Kim Yong-min. However, the scope of the special prosecutor's investigation has been narrowed to focus specifically on the president's family.

This move is interpreted as an intention to pursue both a parliamentary audit of the presidential office and the special prosecutor law targeting the First Lady simultaneously. A floor official explained, "Since the allegations regarding the presidential office's relocation and construction are within the scope of a parliamentary audit rather than a criminal investigation, the areas of the audit and the special prosecutor are being divided. The First Lady herself admitted to the allegations of falsifying academic and career credentials but was cleared of charges, and regarding the stock price manipulation allegations, the statute of limitations is approaching, yet the prosecution has not even summoned her for questioning, so it could be subject to a special prosecutor investigation."

[Image source=Yonhap News]

The ruling party is countering the Democratic Party’s move to propose a new Kim Geon-hee Special Prosecutor Act by highlighting the judicial risks faced by party leader Lee Jae-myung. Kwon Seong-dong, the floor leader acting as the interim leader of the People Power Party, criticized the push for the Kim Geon-hee Special Prosecutor Act at the floor strategy meeting, saying, "Leader Lee is not responding to the prosecution's summons, so it is bizarre to talk about a special prosecutor in this situation." He added, "This seems to be an attempt to divert public attention from the spectacular criminal allegations surrounding the party leader."

Instead of attending the Supreme Council meeting that morning, party leader Lee Jae-myung visited the site of Typhoon Hinnamnor damage in Pohang, Gyeongbuk. After inspecting the situation on-site, he held a meeting with the disaster victims to discuss follow-up measures.

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