Shin Dong-geun: "Members of the National Assembly Must Overcome Conflict of Interest Barriers... Considering 'Retroactive' Application of LH3 Act"

Shin Dong-geun, Democratic Party Supreme Council Member
Discussion Needed on LH3 Act + Conflict of Interest Prevention Act

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] Shin Dong-geun, Supreme Council Member of the Democratic Party of Korea, said on the 9th regarding the allegations of real estate speculation by employees of Korea Land and Housing Corporation (LH) in the 3rd New Town development, "The passage of the Conflict of Interest Prevention Act is fundamental. Even members of the National Assembly must overcome the barriers of conflict of interest."

On the same day, Shin appeared on MBC Radio's 'Kim Jong-bae's Focus' and said, "The legislation should not be limited to land speculation but should include a Conflict of Interest Act covering members of the National Assembly, local government officials, and local council members. This should be discussed on this occasion." He added, "We need to look more comprehensively at conflicts of interest among public officials to prevent corruption."

Regarding criticism that legislative responses might be 'too late' and difficult to apply to the current LH case, he said, "There is a legal theory called 'quasi-retroactive legislation,' and we are reviewing its application to the LH 3 Acts."

On the scope and subjects of the investigation, he explained, "Primarily, the investigation will focus on the 3rd New Town, and the subjects will initially include the individuals themselves, their spouses, and direct ascendants and descendants, with plans to gradually expand."