Kim Jong-in and Ahn Cheol-soo Clash Over the 'Fair Economy 3 Laws'

Kim Jong-in "Ahn Does Not Understand Free Market Economy Well"
Ahn Cheol-soo "The Main Opposition Party Has Many Unfavorable Impressions"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] The opposition alliance between the People Power Party and the People’s Party is faltering over the 'Fair Economy 3 Laws'?amendments to the Commercial Act, the Fair Trade Act, and the Financial Group Supervision Act. Kim Jong-in, the emergency committee chairman of the People Power Party, expressed willingness to accept these bills, while Ahn Cheol-soo, the leader of the People’s Party, clearly opposed them. The two have even criticized each other, shaking the policy coalition between the two parties.

On the 22nd, during a visit to Garak Market in Seoul, Chairman Kim pointed at Leader Ahn, saying, "It seems he does not fully understand what a free market economy is," and added, "If you do nothing and just leave it alone, a free market economy will not function properly." Regarding the policy coalition with the People’s Party, Kim said, "There is no absolute necessity to continue the policy coalition," and explained, "The People Power Party has its own way of thinking, and they have their own way of thinking."

[Image source=Yonhap News]

Earlier, Leader Ahn stated in an interview with Korea Economic Daily regarding the Fair Economy 3 Laws, "Changing corporate governance does not achieve a fair economy," and emphasized, "The core of solving unfair economic issues is to create a genuine free market economic structure where companies can compete fairly." He criticized the ruling party that pushed the bills, saying, "People who have never earned money or paid taxes are leading economic policies," and added, "They have completely taken the wrong direction. I don’t understand why they are so obsessed with corporate governance."

On MBN, Leader Ahn said, "Chairman Kim has worked hard for over 100 days, but there is no sign that public sentiment is changing," and pointed out, "Not only the 2022 presidential election but also next year’s Seoul mayoral by-election will be very difficult." He stressed, "There are many people who have a negative view of the main opposition party," and added, "If only the People Power Party innovates, no one will pay attention. What the opposition needs is competitive innovation."

[Image source=Yonhap News]

Aside from their tensions, Leader Ahn is increasing contact with People Power Party lawmakers. On the 23rd, Ahn gave a lecture on 'Opposition Innovation' at the Korea Future Innovation Forum hosted by Jang Je-won, a People Power Party lawmaker. The event was also attended by Joo Ho-young, the floor leader of the People Power Party. Ahn said, "I came thinking this would not be a place where I unilaterally express my thoughts, but a place to share our ideas about innovation in Korea and regime change."

Floor Leader Joo said, "I hope this day will instill confidence that the opposition can innovate and unite to stop the reckless actions of the Moon Jae-in administration, which is causing despair among the people." Lawmaker Jang said, "(Leader Ahn) directly criticized the economic laws that Chairman Kim and I support," and added, "There will be differences among various policies. I am curious about how we can narrow those differences and work together through public discourse."