Financial and Foreign Exchange Authorities Requested 24-Hour Monitoring
Supplementary Budget Cards Pulled Out for Local Markets and Regional Currency
Regarding Judicial Risks, "Prosecution Itself Does Not Meet Common Sense"
Lee Jae-myung, leader of the Democratic Party of Korea, announced on the 15th a proposal to form a "National Stability Consultative Body" involving both the National Assembly and the government as a measure to resolve the turmoil caused by the impeachment crisis.
On the morning of the same day, following the passage of the impeachment motion against President Yoon Seok-youl, Lee held his first press conference at the National Assembly and stated, "The Democratic Party will actively cooperate with all parties to stabilize the government and restore international trust."
Lee said, "The current crisis is neither fundamental nor structural. It is superficial and temporary, like a storm on a mighty river," adding, "This crisis must be overcome, and as has been the case so far, it will be overcome."
Proposal for National Stability Consultative Body
Lee proposed the formation of a National Stability Consultative Body to overcome economic instability caused by increasing uncertainty. He said, "Through the consultative body, we will conduct policy discussions related to finance, economy, and people's livelihood," and urged, "Financial and foreign exchange authorities should operate a 24-hour monitoring system without any gaps." He added, "More than ever, the government's proactive and active role is necessary. As the ruling party in the National Assembly, the Democratic Party will spare no bipartisan cooperation to stabilize the market and protect investments to resolve economic instability."
To minimize the national administrative vacuum, the impeachment procedure against Prime Minister Han Duck-soo, acting president, was put on hold. Lee said, "It is true that there are many calls to impeach Prime Minister Han for responsibility in this internal turmoil or the previous administrative chaos," but added, "Since Prime Minister Han has already been confirmed as acting president, and too many impeachments could cause confusion in governance, we decided not to proceed with the impeachment for now."
He further explained, "I told Acting Prime Minister Han the day before that now, the prime minister should govern the country neutrally from the government's standpoint, regardless of party affiliation or whether they were nominated by the ruling party." Regarding the possibility of Acting Prime Minister Han exercising the right to request reconsideration (veto) on the special investigation law, he said, "The exercise of veto reflects policy and political differences between the ruling and opposition parties, and rejecting either side would be a political bias."
Lee also called for swift judicial processing of President Yoon. He emphasized, "The Constitutional Court should promptly proceed with President Yoon Seok-youl's dismissal process," adding, "That is the only way to minimize national confusion and public discord." He also stressed, "To hold those responsible for this absurd incident accountable and prevent recurrence, fact-finding and responsibility pursuit must be clear," and urged, "Investigation agencies such as the Joint Investigation Headquarters should conduct a swift and strict investigation to uncover the truth."
Pulling Out the 'Supplementary Budget' Card for Livelihood Recovery
The Democratic Party unveiled the government's supplementary budget (추경) as a concrete policy for livelihood recovery. Lee said, "Due to insufficient domestic demand and the government's reduced fiscal role, consumption has declined," and added, "I believe there is a need to promptly discuss the supplementary budget to address this issue."
He pointed out areas for the supplementary budget, including "local currency budgets to support small businesses and the low-income economy, which the government has severely cut or eliminated, AI-related budgets, and infrastructure investments for securing electricity."
Regarding the possibility of persuading the ruling party to participate in the National Stability Consultative Body, Lee emphasized, "The ruling party no longer exists, and neither does the opposition. Previously, a member of the People Power Party exercised administrative power as the President of the Republic of Korea, but now that president's duties are suspended," adding, "With the president gone, we are returning to a neutral state."
He also said, "If the People Power Party previously made political judgments to protect their party-affiliated president, now, as members of the National Assembly and the second-largest party, there is no reason not to cooperate on the common goals of national stability and livelihood recovery," and added, "If they do not cooperate, they have no reason to exist as a political party."
"Special Investigation on Kim Geon-hee Must Continue"
Lee also emphasized that the special investigation law concerning First Lady Kim Geon-hee should continue. He said, "Some argue that since the president's impeachment has been passed and his dismissal is practically certain, there is no need to investigate those around him," but added, "President Yoon is strongly resisting with the stance that he has done nothing wrong. Nothing has changed. I think the investigation should continue according to law, principles, and common sense."
He said the special investigation on those involved in the emergency martial law should also be expedited. He stated, "Three investigative agencies are competitively investigating, causing considerable confusion, so they should be integrated," and added, "It is also inappropriate that the police and prosecution refuse the legitimate requests of the Corruption Investigation Office for High-ranking Officials. The country's discipline has collapsed. To resolve this, a special investigation is necessary."
Regarding his own judicial risks and potential presidential candidacy, Lee responded, "Many agree that the indictment itself is highly political and does not conform to common sense," and added, "Our constitution adopts the principle of presumption of innocence. A reasonable outcome will be achieved according to law and common sense."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
