SNS Shares Chuseok Well-Wishing Satirical Cartoons on 'Daejang-dong Scandal'
Both Ruling and Opposition Parties Criticize, Mentioning 'Hwacheon Daeyu Haseyo'
A recent illustration circulating on social media (SNS) satirizing the preferential treatment allegations related to the Daejang-dong development project during Lee Jae-myung's tenure as mayor of Seongnam./Photo by Twitter capture
[Asia Economy Reporter Kang Juhee] Amid ongoing controversy over allegations of preferential treatment in the Daejang-dong development project during Lee Jae-myung's tenure as mayor of Seongnam, Gyeonggi Province, an image with the phrase "Hwacheon Daeyu Haseyo" (Do Hwacheon Daeyu) is spreading on social media as a Chuseok greeting.
Recently, images with phrases such as "This Chuseok, do Hwacheon Daeyu. The magic of turning 350 million won into 400 billion won" and "A blessing wishing you a jackpot over 1,000 times your investment and sudden fortune" have been circulating on SNS and online communities, drawing attention. This satirizes Hwacheon Daeyu Asset Management (Hwacheon Daeyu), a private company participating in the Daejang-dong development consortium, which reaped enormous development profits.
In the political arena, voices criticizing Governor Lee also mentioned "Do Hwacheon Daeyu."
Oh Young-hoon, chief spokesperson for Lee Nak-yeon's camp and a member of the Democratic Party of Korea, pointed out in a statement on the 20th, "The Seongnam Ddeul consortium, which Hwacheon Daeyu participated in, was selected as the private business operator just one day after submitting the project plan," and "while Seongnam Urban Development Corporation, holding half of the project's shares, received 183 billion won in dividends, Hwacheon Daeyu and six individual investors, who actually held only 7% of the shares, received 404 billion won in dividends."
He sarcastically added, "A 1,153-fold, 110,000% return," and "So much so that among the public, 'Do Hwacheon Daeyu' has become a common Chuseok blessing."
Former Jeju Governor Won Hee-ryong mentioned "Hwacheondaeyu haseyo" while delivering Chuseok greetings on the 21st. Photo by YouTube Capture
Won Hee-ryong, a presidential candidate from the People Power Party and former governor of Jeju Province, also mentioned "Do Hwacheon Daeyu" while delivering Chuseok greetings on YouTube on the 21st. Former Governor Won asked, "Are you having a good Chuseok?" and said, "This Chuseok, please do Hwacheon Daeyu. It is a blessing wishing you a jackpot over 1,000 times your investment and sudden fortune."
He added, "This is absolutely not a curse but a blessing," and said, "If you say 'Hwacheon Daeyu,' you can respond with 'Cheonhwa Dongin Haseyo' (Do Cheonhwa Dongin). I hope you do Hwacheon Daeyu and have a bountiful Chuseok." Cheonhwa Dongin is a subsidiary of Hwacheon Daeyu that participated in the Daejang-dong development project and has units numbered 1 through 7.
Park Dae-chul, a member of the People Power Party, also posted on Facebook on the 19th, saying, "People disappointed with the Moon Jae-in administration will see a different full moon next Chuseok than this year," and included hashtags '#ChuseokBlessing #DoHwacheonDaeyu #DoCheonhwaDongin.'
Meanwhile, as opposition parties continue to demand a special prosecutor over the Daejang-dong development preferential treatment allegations, Governor Lee responded by stating he will push for related legal amendments to recover 100% of public development profits in the future.
In a post on Facebook on the 22nd, Governor Lee claimed, "(At the time of project promotion) complete public recovery of development profits was blocked by opposition from the People Power Party, and we could not allow private development as they intended," adding, "We devised a method to carry out public development with private investment funds and managed to recover 550.3 billion won."
He continued, "Criticized for not coordinating to recover 100% of public development profits, even if we fully recover unearned development profits according to public development principles in the future, they will not be able to oppose it," and "We have now been able to introduce the 'Development Profit National Recovery System,' which mandates public recovery, establishes a dedicated national agency, fundamentally blocks speculation, and returns all profits to the people. Under the next Democratic government, monopolization of development profits will completely disappear."
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