TV Debate Lost Amid Kim Gi-hyeon and Lee Jae-myung's Son Dispute... Cooperation Drifts Further Away

Focus on Restoring Cooperation Amidst Strong Legislative Confrontation
Both TV Debate and Private Meeting Face Cancellation Risk

Lee Jae-myung, leader of the Democratic Party of Korea, raised suspicions that Kim Ki-hyun, leader of the People Power Party, has a son serving as an executive at a virtual asset company. In response, the People Power Party countered by accusing Lee Jae-myung's son of habitual gambling and prostitution allegations. As the planned TV policy debate between the two party leaders, which had been proceeding behind the scenes, faces cancellation, concerns over the disappearance of cooperative governance are growing.

The Democratic Party has repeatedly used its majority seats to directly submit bills to the National Assembly plenary session, while the People Power Party has repeatedly stalled the passage of bills by recommending the exercise of the presidential veto power to the Blue House. The Grain Management Act and the Nursing Act, which were returned to the National Assembly through vetoes, were discarded in the plenary session re-votes.

As the legislative standoff between the two parties continued, calls arose for the two party leaders to meet and bring about cooperation. However, as the two leaders exchanged sharp words over their sons, the TV debate is now at risk of collapse. On the 12th, Yoon Hee-seok, spokesperson for the People Power Party, said in an interview with Yonhap News TV's 'News Focus,' "The two leaders are now engaged in a dispute over their sons, so although there was an intention to hold a TV debate and private meetings, the likelihood of these happening has become uncertain."

The trigger was the suspicion raised regarding Kim leader's son. On the 10th, Lee shared an article on Facebook claiming that Kim's son is an executive at a cryptocurrency investment company and demanded an explanation. The claim suggested that Kim's support for the postponement of virtual asset taxation in June 2021 was due to collusion with the virtual asset industry.

Kim immediately countered with suspicions about Lee's son. On the 11th, he posted on Facebook, "What is wrong with my son being employed at a small venture company with about 30 employees?" He added, "He is just an employee who receives a salary without owning a single share of the company." He then asked, "Is it true that Lee's son has been involved in habitual gambling and prostitution? Now it is Lee's turn to answer."

Kim Ki-hyun, leader of the People Power Party (left), and Lee Jae-myung, leader of the Democratic Party of Korea.
[Image source=Yonhap News]

The People Power Party moved to defend Kim leader's son. Kim Jeong-jae, a People Power Party lawmaker, said, "(Kim's remarks supporting the postponement of virtual asset taxation) were made because it was a time when young people in their 20s and 30s invested in virtual currency by borrowing heavily due to President Moon Jae-in's failures in job and real estate policies. It was a matter of understanding the position of the 20s and 30s generation and temporarily postponing the tax, then addressing other issues later." He added, "Kim's son is just an ordinary employee, so there is absolutely no problem."

On the 13th, in an interview with YTN Radio's 'News King Park Ji-hoon,' the lawmaker said, "Lee's son had issues such as gambling suspicions, and the son of Democratic Party lawmaker Jeong Cheong-rae, who has sexual harassment allegations, even apologized."

The Democratic Party brought up Kim leader's 'Ulsan KTX station area speculation allegations' that surfaced during the People Power Party's party convention.

On the 13th, Hwang Un-ha, a Democratic Party lawmaker, issued a statement titled "Kim Ki-hyun Land Speculation and Local Construction Corruption Allegations Investigation" under the name of a task force (TF) on Facebook, stating, "Father involved in land speculation, son involved in virtual asset speculation," and urged, "Kim leader and his son should fully disclose their speculation details to the public."

The TF claimed, "The company 'Unopened,' where Kim's son works, is not an ordinary small venture company," adding, "Last year, it raised investment funds by promoting a seemingly promising vision under the name 'Dava Project,' but then neglected the business, becoming embroiled in so-called 'rug pull' controversies (a fraudulent act by virtual asset developers to withdraw investments). Its parent company 'Hashed' is known as an early investor in the Terra and Luna coins, which were involved in multi-trillion won coin fraud scandals."

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