Kim Jong-in: "Ahn Cheol-soo Does Not Accurately Understand Free Market Economy"

Kim Jong-in, Emergency Response Committee Chairman of the People Power Party, is briefly lost in thought during a video members' meeting held on the 22nd at the main building video conference room of the National Assembly in Yeouido, Seoul. Photo by Yonhap News

[Asia Economy Reporter Kim Seul-gi] Ahn Cheol-soo, leader of the People’s Party, criticized the so-called 'Fair Economy 3 Laws' including the Commercial Act and the Fair Trade Act, saying "(The government and ruling party) have completely taken the wrong direction." In response, Kim Jong-in, emergency committee chairman of the People Power Party, on the 22nd scolded Ahn, saying, "That person (Ahn) seems to not fully understand what free market economy is."

The 'Fair Economy 3 Laws' refer to the Commercial Act, Fair Trade Act, and Financial Group Supervision Act, which the government and ruling party are promoting with the aim of improving corporate governance and achieving a fair economy through regulation of corporate boards.

Chairman Kim said during a meeting with reporters at Garak Market in Songpa-gu, Seoul, in the afternoon, "If you call it a free market economy and do nothing, leaving it alone, it will not function properly," expressing this view.

Ahn Cheol-soo, leader of the People’s Party, is giving a lecture on the theme of ‘The Future of the Republic of Korea and Innovation Tasks of the Opposition’ at the ‘Republic of Korea Future Innovation Forum’ held at the Kensington Hotel in Yeouido, Seoul, on the morning of the 23rd.
[Image source=Yonhap News]

He added, "We do not necessarily have a justification to continue policy cooperation with the People’s Party. They have their own way of thinking," dismissing the possibility of an alliance.

Earlier, Ahn also criticized in an interview with a media outlet that afternoon, "Chairman Kim Jong-in has worked hard for over 100 days, but there has been no sign that public sentiment is moving."

Ahn pointed out, "If the opposition goes to the election as it is now, I think they will lose. Not only the next presidential election but also the Seoul by-election next year will be very difficult."