With "Defense Industry Stock 'Conflict of Interest' Lee Jae-myung Reported to Ethics Committee"... Opposition Party Says "Audacity"

Democratic Party leader Lee Jae-myung is speaking at the 'Press Freedom and Broadcasting Independence Journalists' Meeting' held at the National Assembly on the morning of the 13th. Photo by National Assembly Press Photographers Group

[Asia Economy Reporter Choi Seoyoon] The People Power Party on the 13th sharply criticized Lee Jae-myung, the leader of the Democratic Party of Korea and a member of the National Assembly's National Defense Committee, for violating the duty to prevent conflicts of interest regarding his ownership of defense industry-related stocks. They announced their intention to file a complaint with the National Assembly Ethics Committee the following day.

While intensifying the moral attack against Lee, this move is also interpreted as a 'counterattack' in response to the Democratic Party's filing of complaints against People Power Party Emergency Response Committee Chairman Jeong Jin-seok and lawmaker Kwon Seong-dong with the Ethics Committee on the same day. Senior spokesperson Yang Geum-hee stated in a commentary, "Lee clearly violated the Conflict of Interest Prevention Act."

Regarding Lee's purchase of two stock items, Korea Shipbuilding & Offshore Engineering and Hyundai Heavy Industries, for about 230 million won in April before running in the by-election in June, controversy arose over a 'conflict of interest' as a member of the National Defense Committee, leading him to sell all the stocks on the same day.

Senior spokesperson Yang criticized this as "shameless," saying, "The explanation that there is no problem because the stocks were purchased before being elected as a member of the National Assembly cannot be accepted." He pointed out, "He should have either not chosen the National Defense Committee or sold or placed the stocks in a blind trust immediately upon assignment to the committee."

He added, "Was the parliamentary badge for Lee a 'bulletproof badge' or a 'golden badge' for asset accumulation?" and said, "Lee, habituated to the privatization of power, tried to link his activities in the National Assembly standing committee to his economic interests."

In response, the Democratic Party strongly opposed, saying, "There is a limit to impudence." Spokesperson Kim Ui-gyeom said in a written briefing, "It is absurd that the leader of the main opposition party is baselessly counter-filing complaints to avoid public criticism over Emergency Response Committee Chairman Jeong Jin-seok's pro-Japanese remarks and lawmaker Kwon Seong-dong's rude remarks during the national audit," adding, "There is no shamelessness like this shamelessness."

He criticized, "Lee purchased the stocks before deciding to run for the National Assembly election and underwent eligibility review within the legal procedures," and said, "The People Power Party is making unreasonable accusations and nitpicking."

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