Choi Hong Refutes Decision to Withdraw Top-Level Nomination
"It Undermines the Entire Decision-Making Process of the Nomination Committee... Please Correct It"
[Asia Economy Reporter Kim Hyemin] Former Macquarie Investment Asset Management CEO Choi Hong protested the decision by the United Future Party's Supreme Council on the 16th to withdraw his nomination for Gangnam-eul.
On the afternoon of the same day, Choi held a press conference at the National Assembly, stating, "The party's Supreme Council made the decision to invalidate my nomination as if I had a serious disqualification," and added, "The serious disqualification cited by the Supreme Council has no basis at all and is absolutely unacceptable."
Choi had previously received a strategic nomination for the Gangnam-eul district, but the party's Supreme Council requested a reconsideration from the Nomination Management Committee. The committee confirmed the original plan after re-examination, but the Supreme Council decided to cancel the nomination in a closed meeting that morning, citing past sanctions and penalties from the Financial Supervisory Service.
He had stepped down as CEO when the Financial Supervisory Service confirmed sanctions in December 2014 due to bond parking transactions by employees during his tenure as CEO of ING Asset Management (the predecessor of Macquarie Investment Asset Management).
In response, Choi emphasized, "This is a reason for invalidating the nomination that I cannot accept at all," and stated, "Although I was disciplined for management responsibility at the time, it was not due to any personal corruption or illegal acts." He criticized, "I could have objected at the time, but I acknowledged the management responsibility mistake and voluntarily resigned. Is this really a serious disqualification to invalidate the nomination?"
Choi pointed out, "The Supreme Council entrusted the nomination-related work to the Nomination Management Committee and received a judgment that there were no problems through the candidate suitability investigation. It went through two strict verification processes, including the request for reconsideration," and criticized, "However, the Supreme Council now ignores the committee's decision and makes a decision completely opposite to that of the committee."
He added, "It is illegal and an unprecedented abuse of power for the Supreme Council to overturn a matter confirmed even through reconsideration," and criticized, "Such behind-the-scenes actions shake the entire decision-making process of the party and cause great disappointment to the public." He urged the party leadership to "reestablish the correct values and justice that the United Future Party pursues."
When asked whether he believed that the controversy surrounding former Nomination Committee Chairman Kim Hyung-o influenced this decision, Choi replied, "I have no knowledge of that," but fully denied it, saying, "Is the Nomination Committee something that can be led by one or two people? The term 'sacheon' (secret nomination) is just a word that someone likes to create." He also pointed out, "Even looking at the party rules, there is no basis for withdrawing the nomination. Overturning a matter confirmed after reconsideration raises reasonable suspicion that there might be other reasons."
He emphasized that he was thoroughly scrutinized regarding past sanctions from the Financial Supervisory Service during the interview process. Choi said, "Because of this issue, I underwent a detailed verification for over two hours. It is true that the nomination decision was made after confirming that I personally had no corruption or illegal acts," and added, "That is why the same result came out unwaveringly even in the reconsideration."
Choi appealed, "If people think I am unqualified, more capable individuals would not even consider running and would give up. The world loves to frame people, and the truth is trapped and withering inside that frame. Now, I ask the public to see the truth."
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