People Power Party: "Ruling Bloc's Plan to Abolish Breach of Trust Law Clearly Aims to Save Lee Jaemyung"

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Kim Do-eup, the Policy Committee Chair of the People Power Party, protested on the 30th against the government's and ruling party's decision to abolish the crime of breach of trust, stating, "Abolishing the crime of breach of trust under criminal law is clearly a law designed to save President Lee Jaemyung."

Speaking to reporters after the party's internal countermeasure meeting at the National Assembly that morning, Kim said, "The Democratic Party must clarify whether it intends to abolish the crime of breach of trust under criminal law or the special breach of trust under commercial law," and criticized, "This is a measure intended to secure a 'dismissal of charges' verdict for President Lee, who is on trial for breach of trust in the Daejang-dong case."

Yonhap News Agency

He continued, "The Democratic Party claims that abolishing the crime of breach of trust is necessary to create a business-friendly environment, but the crime of breach of trust targets corporate executives, owners, and conglomerates for punishment," pointing out, "When these individuals cause harm to a company, the ones who suffer are the employees and investors affiliated with that company." He added, "It is contradictory to say that abolishing the crime of breach of trust will make the country more business-friendly."

Regarding Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol's statement that administrative sanctions would be used instead, Kim said, "Even now, companies are not prosecuted for breach of trust in cases of minor damage," and emphasized, "According to Supreme Court precedents, if management makes prudent business decisions solely for the benefit of the company, they cannot be punished for breach of trust even if the company suffers losses."

On the side effects of abolishing the crime of breach of trust, he argued, "Companies and owners who manage companies may make reckless decisions," and claimed, "This could inflict significant economic losses on companies, destabilize employment for workers, and cause harm to 'small investors.'"

He further emphasized, "Abolishing the crime of breach of trust has shown a tendency to decrease corporate credibility and stock prices," and warned, "Abolishing this crime could directly impact employees and minority shareholders within companies."

The crime of breach of trust under criminal law punishes those who, while managing another's affairs, violate their duties to obtain property benefits for themselves or a third party, thereby causing harm to the principal.

On this day, the Democratic Party and the government decided to abolish the crime of breach of trust under criminal law, which has been criticized for making normal business decisions difficult for companies. Kim Byungki, the party's floor leader, stated at a Democratic Party Economic Criminal and Civil Liability Rationalization Task Force (TF) and government-party consultative meeting held at the National Assembly Members' Office Building, "Regulations have strangled self-employed small business owners and dampened economic vitality. The crime of breach of trust is a representative example," adding, "The Democratic Party has set the abolition of the crime of breach of trust as its basic direction. We will prepare practical improvement measures."

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