Lee Jae Myung: "I Will Process the Commercial Act Amendment Within 2 to 3 Weeks"

Eliminating Unfair Practices in the Stock Market
Preventing Damage from Physical Spin-Offs and Relistings

Lee Jae Myung, the presidential candidate of the Democratic Party, announced that if he is inaugurated as president, he will process the amendment to the Commercial Act within two to three weeks. His intention is to eliminate unfair practices in the stock market and prevent damage to minority shareholders caused by large corporations' physical spin-offs and relistings.

Lee Jae Myung, the presidential candidate of the Democratic Party, is campaigning at Cheolsan Rodeo Square in Gwangmyeong, Gyeonggi Province on June 2, 2025. Photo by Kim Hyun Min

On June 2, appearing on the YouTube channel 'Hankyoreh TV,' Lee stated, "Since the amendment to the Commercial Act has already passed the National Assembly once, it can be supplemented and handled more strongly," adding, "If the president does not exercise the veto, it will not take even a month." He further said, "The structure in which major shareholders extract core businesses through physical spin-offs and subsidiary relistings is something that cannot exist in a normal country," emphasizing, "This can be fully prevented through the amendment to the Commercial Act."

He identified unfair transactions as the cause of distrust in the stock market. Lee explained, "If we send a clear message that fraudulent transactions in the stock market will be punished with the maximum sentence, the market will respond immediately," and added, "Even if we implement just a few measures that are feasible in the short term and face little resistance, market sentiment can be revived."

Regarding the Emergency Economic Response Task Force (TF), which he pledged to activate immediately upon taking office, Lee said, "We will quickly form a working-level unit to organize short-, mid-, and long-term measures, and establish a rapid execution system directly under the president."

He drew a clear line regarding concerns about political retaliation. Lee stated, "Not only do I not enjoy retaliation, but I want to earn support through achievements and live as a respected citizen and neighbor even after retirement," adding, "That is an unnecessary concern and a groundless fear. Do not worry. We are not such petty people," he dismissed.

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