Lee's Closest Aide 'Kim Yong' Arrested... Political Circle's Feared 'Yoon vs Lee' Presidential Election Round 2

Kim Yongbal 'Daejangdong Special Prosecutor' Standoff Deepens Between Ruling and Opposition
Seven Months After Presidential Election, 'Yoon Seok-yeol vs Lee Jae-myung' Rivalry Resurfaces
Anti-Government Rally Today... Opposition Signals Boycott of Yoon's Policy Speech Next Week
Livelihood Issues Neglected... Political Conflict Resumes After National Audit

Deliberations on livelihood bills and other essential tasks that the National Assembly must undertake are being pushed aside, and we are forced to continuously endure the uncomfortable feeling of an unprecedentedly unfavorable presidential election as if it were an extended third round of the presidential race. Issues like Daejang-dong, Baekhyeon-dong, Seongnam FC, Deutsch Motors, and Covana Contents will keep coming up, won't they?

-From the radio remarks of Cho Eung-cheon, the 'Mr. Bitter Truth' of the Democratic Party of Korea, last September-

It did not take long for these words, which initially sounded like mere 'concerns,' to become reality. As soon as the first government audit of the Yoon Seok-yeol administration ended, the confrontation between 'Yoon Seok-yeol vs. Lee Jae-myung' seems to have resumed.

Lee Jae-myung, the Democratic Party presidential candidate, and Yoon Seok-youl, the People Power Party presidential candidate, are attending an event held on the 10th at the Grand Walkerhill Seoul in Gwangjang-dong, Seoul. Photo by National Assembly Press Photographers Group

Suspicions of 'Illegal Presidential Election Fund Receipt,' Kim Yong Finally Arrested

On the 22nd, with the arrest of Kim Yong, deputy director of the Democratic Research Institute and a close aide to Lee Jae-myung, leader of the Democratic Party of Korea, on charges of violating the Political Funds Act, the 'foreseen' political investigation phase has fully begun. The Democratic Party views the prosecution's focus as ultimately targeting Lee and has labeled this a 'political retaliation investigation,' responding strongly. Meanwhile, the People Power Party warned that if the party tries to shield Lee's personal legal risks at the party level, "they could sink together," making a direct confrontation between the ruling and opposition parties inevitable.

Especially as Lee proposed a 'Daejang-dong special prosecutor' including President Yoon Seok-yeol on the same day, the confrontation between 'Yoon Seok-yeol vs. Lee Jae-myung' is expected to unfold once again, seven and a half months after the presidential election ended. Additionally, with the Democratic Party mentioning a possible 'boycott' of President Yoon's upcoming National Assembly policy speech scheduled for the 25th, tensions between the ruling and opposition parties may further escalate over the weekend.

[Image source=Yonhap News]

Kim Yong, deputy director of the Democratic Research Institute who was arrested by the prosecution, is accused of receiving 847 million KRW in four installments around the time of the presidential primary candidate registration from Yoo Dong-gyu, former head of planning at Seongnam Urban Development Corporation, among others. The prosecution believes this money was used as political funds. Earlier search warrants and other documents also specified the nature of the 800 million KRW as 'political fund donations.'

Kim has completely denied the charges, calling it "prosecutorial double standards," but the prosecution has gone further, believing that the amount Kim initially demanded from Yoo was not 800 million KRW but as much as 2 billion KRW.

The ruling party claims that the money Kim received was used as Lee's presidential election funds.

On the morning of the 21st, People Power Party lawmaker Jeon Ju-hye appeared on a radio show and said, "Kim is known as Lee's closest aide, even called his alter ego, so it is a reasonable inference that the money Kim received ultimately belongs to Lee."

Lee Jae-myung, leader of the Democratic Party of Korea, holds an emergency press conference at the National Assembly on the 21st. Photo by Yoon Dong-joo doso7@

However, on the same day, Lee held a special press conference in the party leader's meeting room and completely denied the allegations of presidential election funds, saying, "I have not even received a single candy, let alone election funds." Lee strongly protested, saying, "No matter how much they search, not even dust comes out, so they are fabricating nonexistent 'illegal presidential election funds.'"

The party also launched an active counterattack. In a message sent to reporters, the Democratic Party stated, "Lee has never received a single won of illegal political funds, including during the presidential election, nor has he received illegal political funds from Deputy Director Kim. Even when expanding the scope to official political donations, Kim only donated 500,000 KRW to Lee during the 2018 Gyeonggi Province governor election, and there is no record of political donations during the 2021-2022 presidential election and primary process."

Lee Proposes "Simultaneous Special Prosecutor for Daejang-dong Suspicion Including President Yoon" vs. Presidential Office Says "Ruling Party Already Responded"

Lee, in turn, proposed to President Yoon and the ruling party to accept a special prosecutor investigation related to the Hwacheon Daeyu Daejang-dong development. He said, "We must investigate not only the development and the substance of Hwacheon Daeyu but also the problems and suspicions related to the Busan Savings Bank investigation, which ultimately protected the seed money of corrupt forces, including the president," calling for a simultaneous special prosecutor for Daejang-dong.

Lee Jae-myung, leader of the Democratic Party of Korea, holds an emergency press conference at the National Assembly on the 21st. Photo by Yoon Dong-joo doso7@

He also mentioned the circumstances under which the president's father's house was purchased by the sister of Kim Man-bae, the major shareholder of Hwacheon Daeyu, adding, "We must also uncover the fabricated investigation and false testimony coaching suspicions raised during the sudden change in Hwacheon Daeyu's fund flow statements."

The 'simultaneous special prosecutor for Daejang-dong' was also mentioned during the last presidential election. It is a proposal that not only Lee but also President Yoon, who is implicated in the Daejang-dong suspicions, undergo a special prosecutor investigation together.

[Image source=Yonhap News]

Regarding this, the Presidential Office avoided a direct answer to reporters' questions about the simultaneous special prosecutor for Daejang-dong, saying, "We understand that (People Power Party) floor leader Joo Ho-young has already responded." After Lee's press conference ended that day, Floor Leader Joo held an emergency press briefing and said, "Special prosecutors are introduced when investigations are not properly conducted or when investigations cannot be trusted, but now that the regime has changed and investigations have properly started, they are demanding a special prosecutor," evaluating it as "intentional stalling and diluting the investigation."

Prepared for Outside-the-House Battle... Mention of Boycott of President’s Policy Speech on the 25th, Heightened Ruling-Opposition Tensions

Although the first government audit under the Yoon administration will conclude on the 24th after heated exchanges between the ruling and opposition parties, it is expected that immediately after the audit ends, the political climate will enter a 'special prosecutor phase,' leading to another conflict stage.

On the 22nd, a march is scheduled in Gwanghwamun, Seoul, demanding President Yoon's resignation and a special prosecutor investigation into Kim Keon-hee. The Candlelight Victory Transition Action has reported that 100,000 people will attend the rally starting at 4 p.m. Some lawmakers from the Democratic Party's hardline faction 'Cheoreomhoe' are also expected to participate.

Democratic Party spokesperson Park Sung-jun said, "This is a public rally against political oppression by the Yoon Seok-yeol regime. It is something that can be spoken about from the perspective of lawmakers and the public."

In response, the Liberty Unification Party led by Pastor Jeon Kwang-hoon also plans to hold a rally of 30,000 people around Donghwa Duty-Free Shop on the same day, raising the possibility of clashes between the two sides. Analysts say that the political strife between the ruling and opposition parties is escalating into an outside-the-National Assembly battle.

Regarding this, the Presidential Office emphasized, "Freedom of assembly is a fundamental right guaranteed by the constitution," but added, "Acts that shake the constitutional order are not desirable for the country."

The Democratic Party is also considering boycotting President Yoon's National Assembly policy speech scheduled for the 25th.

[Image source=Yonhap News]

Jin Sung-jun, Democratic Party floor deputy leader, appeared on a radio program and said, "Within the party, there is a strong opinion that if such (prosecutorial search attempts) situations continue, we should reject the president's policy speech and respond strongly."

The policy speech is an occasion where the president explains economic and fiscal policies related to budget formulation to the National Assembly before the government budget review, requesting bipartisan cooperation across the government. The Presidential Office asked for opposition cooperation, saying, "Important matters such as next year's budget must be handled by the National Assembly. Regardless of external circumstances, the National Assembly must put their heads together to restore livelihoods and revive the economy, which is the people's wish and the Assembly's duty." However, as the political climate between the ruling and opposition parties rapidly freezes, discussions related to next year's budget, including the government's tax cut policies, are expected to face a thorny path.

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