Eonju Lee Criticizes Hand Donghun Over Lone Star Victory: "'Democratic Party Taking Credit' Remark Only Shows His Small-mindedness"

Eonju Lee, Supreme Council Member of the Democratic Party of Korea. Photo by The Asia Business Daily

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The political sphere is embroiled in a debate over credit following the South Korean government's victory in the annulment application for the international investment dispute (ISDS) between the US-based private equity fund Lone Star and the Korean government. In particular, Han Donghun, former leader of the People Power Party and Minister of Justice at the time the annulment suit was filed, remarked, "The (Democratic) Party administration should not try to take credit belatedly." In response, Eonju Lee, Supreme Council Member of the Democratic Party of Korea, criticized, "This only proves how small-minded he is."

On the 20th, Lee stated on her social media, "I would like to commend Han Donghun for the decision to file the Lone Star lawsuit itself," but added, "He neither led the case to victory nor saw it through, as he stepped down from his ministerial post early. Yet, he now acts as if he did everything alone, disparaging the contributions of others, which is truly disappointing."

Lee continued, "The former leader is directing criticism at the Lee Jaemyung administration (Prime Minister Kim Minseok and Minister of Justice Jeong Seongho), telling them not to take credit. But since it is the current Lee Jaemyung administration that achieved this victory, it is only natural for them to share the news and celebrate with the public. To talk about 'taking credit' like this-why be so petty?"

She further emphasized, "The greatest contribution came from the public officials who led the case on the ground. To belittle the Lee Jaemyung administration's achievement in successfully concluding the lawsuit as merely 'taking credit' is not only ignorant, but also a very childish and misguided act that divides national interests or the government along partisan lines."

Handonghun, former leader of the People Power Party. Photo by Yonhap News

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Lee also added, "It is truly unpleasant to see him loudly demanding apologies from some Democratic Party figures who criticized the lawsuit at the time. If he just stayed quiet, they would have felt awkward enough on their own-why make such a fuss demanding apologies?" She reiterated, "This only proves how small-minded he is." Previously, on the 18th, Han Donghun posted on social media regarding the government's victory in the ISDS annulment application against Lone Star, saying, "The (Democratic) Party administration should not try to take credit belatedly, and should apologize to the public for having criticized and opposed the lawsuit at the time."

Minister of Justice Jeong Seongho and Prime Minister Kim Minseok acknowledged Han Donghun's contribution in pursuing the annulment application for the Lone Star international investment dispute (ISDS) arbitration award related to the sale of Korea Exchange Bank. By taking a magnanimous approach and refraining from politicizing this victory, they indirectly responded to Han's criticism about 'taking credit.'

The International Centre for Settlement of Investment Disputes (ICSID) fully annulled the South Korean government's compensation ruling against the US private equity firm Lone Star on the 18th due to "serious procedural violations," including the improper acceptance of evidence during the ruling process. Previously, the Lone Star arbitration tribunal had accepted the decision document between Lone Star and Hana Financial Group from the International Chamber of Commerce (ICC) International Arbitration Court as evidence, during which the Korean side's rights to present arguments and cross-examination were even denied. According to the ICSID Convention, the grounds for annulment include defects in the composition of the arbitral tribunal, serious excess of powers, corruption of arbitrators, serious procedural violations, and failure to state reasons in the award.

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On the 20th, Minister Jeong stated on social media, "The victory in the Lone Star lawsuit is a national celebration. However, after the victory, controversy over credit has arisen, and various opinions are being voiced regarding the past annulment application." He added, "At the time of the annulment application, some argued, based on past cases, 'Why apply for annulment at great expense when the chances of winning are very low?'"

Minister Jeong continued, "However, then-Minister of Justice Han Donghun believed in the possibility and decided to file for annulment. It was the right decision-a courageous choice that deserves to be recognized for its conviction." He added, "The annulment suit was fully underway after Minister Han left the Ministry of Justice, with oral hearings during a turbulent period, and was concluded after the Lee Jaemyung administration took office. The dedication of all involved led to this victory. At a time when the nation's fortunes are rising again, this is something everyone should be grateful for and celebrate together."

Prime Minister Kim also posted on social media that day, "Early this morning, I called those who played a key role in the Lone Star victory to thank them. I told Minister Jeong to have a 'chicken and beer party,' and I believe the President will also commend them upon his return." He added, "From the beginning, I believed this achievement belonged to those who fulfilled their duties unshaken during a period of political turmoil when there was neither a president nor ministers, and I wanted to emphasize that. This is not something to be politically contested."

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