"Include Stock and Real Estate Transaction Records in Basic Incheong Documents"... Kim Euigyeom Proposes Incheong Strengthening Bill

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[Asia Economy Reporter Naju-seok] On the 23rd, a bill to amend the Confirmation Hearing Act, which adds real estate and stock transaction details to the supporting documents that candidates must submit during National Assembly confirmation hearings, was submitted to the National Assembly.

On the 23rd, Kim Euigyeom, a member of the Democratic Party of Korea, introduced the "Confirmation Hearing Act Amendment Bill" to strengthen the verification of public office candidates. The amendment requires that, in addition to the basic documents currently submitted during the confirmation hearing process, candidates must also submit ▲ immigration and customs declaration details, real estate transactions and stock trading details, scholarship receipts and thesis submissions ▲ minor offenses and public order violations in criminal records ▲ income tax and other tax payment details, real estate transactions, and stock trading details. The submitted documents must include not only the candidate's information but also that of their direct ascendants and descendants.

Currently, only five types of supporting documents are required: 'matters related to occupation, education, and career,' 'military service report,' 'property report,' 'income tax, property tax, and comprehensive land tax payment and delinquency status for the past five years,' and 'criminal record details.'

Kim's office explained, "If the amendment passes, suspicions regarding the accumulation of wealth by public office candidates will be scrutinized more thoroughly. For example, during the confirmation hearing of Prime Minister Han Duck-soo, controversy arose over his wife's painting sales. At that time, the Prime Minister's side stated that 'his wife sold paintings and paid all taxes,' but they never disclosed the details of the painting sales or tax payments. If the amendment passes, it will be possible to verify how much the paintings were sold for and how much tax was paid."

Kim said, "Although the public's expectations for public office candidates have become stricter over the more than 20 years since the Confirmation Hearing Act was enacted, the mandatory supporting documents remain unchanged, and the submission of materials has even regressed, falling far short of the public's expectation for thorough verification. To prevent repeated controversies and disruptions over document submissions, I hope the amendment will be promptly passed so that the National Assembly can faithfully verify public office candidates on behalf of the people."

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