As Internal Discord Continues... Kim Jong-in Issues Unusual Warning, "Have You Forgotten the 4·15 Defeat?"

Chairman Kim: "Seoul Defeat Is a Warning to the Party's Existence"
"Please Create an Opportunity to Explain to Our People," Appeals
Recent Internal Turmoil Including New Party Color Decision and Fair Economy 3 Laws

Kim Jong-in, Emergency Response Committee Chairman of the People Power Party, is drinking water at the video conference of the National Assembly held on the 22nd. / Photo by Yonhap News

[Asia Economy Reporter Lim Juhyung] The emergency committee led by Kim Jong-in, who has been leading the People Power Party since the 21st general election, is facing challenges. The decision on the new party color has been postponed repeatedly, and discord has arisen within the party over Kim’s support for the so-called 'Fair Economy 3 Laws.' In response, Kim warned the party members, "Do not forget the tension and sense of crisis felt from the election defeat."

On the 22nd, at a virtual party members' meeting held at the National Assembly, Kim said, "Please recognize why the emergency committee exists," adding, "It is because we suffered an unprecedented large defeat in the April 15 general election."

He continued, "There has never been such a defeat in Seoul," and "The ruling party that lost in Seoul elections had its regime collapse. In other words, this Seoul defeat is a major warning about how the party will survive."

He also said, "I think many members are quite dissatisfied with the emergency committee," but emphasized, "I have no intention of pursuing any personal political goals."

Kim appealed, "Since we have changed the party platform and policies, please create an opportunity to sufficiently explain our party to the public through legislative activities based on these changes."

Draft of the People Power Party membership card reported at the emergency committee meeting of the People Power Party on the 14th. It was designed using a three-color combination. / Photo by Yonhap News

Kim’s remarks on this day are seen as an appeal for unity among party members amid recent internal noise over the new party color decision and support for the Fair Economy 3 Laws. Some suggest that Kim’s leadership, which has guided the People Power Party so far, may be facing challenges.

A representative example is the disagreement over the new party color. Earlier, on the 14th, Kim Sumin, head of the People Power Party’s publicity department, proposed a party color combining red, yellow, and blue to encompass conservative, moderate, and progressive colors. This color reflects the de-ideologization emphasized by Kim Jong-in.

However, many party members favored maintaining the existing party color, 'Happy Pink.' Ultimately, the vote on the new party color scheduled for the 17th was postponed to the 20th, then again to the 22nd for the party members' meeting. Even at the meeting, consensus was reached to let the authorized body make the final decision, resulting in another postponement.

Chairman Kim of the Emergency Committee and Joo Ho-young, floor leader of the People Power Party, are talking at the video members' meeting held at the National Assembly on the 22nd. / Photo by Yonhap News

There were also reported discord over Kim’s expressed support for the Fair Economy 3 Laws.

The Fair Economy 3 Laws refer to amendments to the Commercial Act and the Fair Trade Act, and the enactment of the Financial Group Supervision Act. They include provisions such as 'multiple derivative suits,' allowing minority shareholders of parent companies to sue for misconduct by subsidiary executives, and 'separate appointment of audit committee members,' reducing major shareholders’ influence in appointing auditors.

Kim expressed acceptance of these laws. In an interview with 'Yonhap News' on the 20th, he said, "We cannot oppose the government’s bill outright," adding, "Since it is something we have tried to do in the past, we have no choice but to accept it."

At a meeting with reporters after the emergency committee meeting on the 21st, he stated, "There is no major problem with the law itself," and "If there are parts to be corrected during the discussion process, they will be somewhat amended, but the law itself should not be rejected."

He also dismissed opposition by saying, "Because there are many members, opposing opinions are coming out," and "That itself is not very important."

However, critical voices emerged within the party regarding the bill. On the 22nd, Yoon Chang-hyun, a People Power Party member of the Political Affairs Committee, said in an interview with 'Korea Economic Daily,' "When looking at individual bills, there are many burdensome aspects," and criticized, "Fair policies are also economic policies, but there is very little analysis of effectiveness as economic policies."