96 Delegates Sign Vote of No Confidence Against President
Claims of High-Interest Private Loans and Abolition of Profit-Making Projects
President Explains, "Legal Dispute Was Resolved Last Year"
Legal Corporation 5·18 Democratic Movement Injured Association.
The 5.18 Democratization Movement Injured Association, which has experienced internal strife such as the misappropriation of national subsidies after being converted into a statutory organization, is now facing deepening conflicts once again, with attempts to dismiss the president through a vote of no confidence only eight months after forming its new second-term executive board.
According to the 5.18 Democratization Movement Injured Association, a statutory organization, on the 6th, some delegates of the association are pushing to convene an extraordinary general meeting to pass a vote of no confidence against President Cho Gyuyeon.
They claim, "President Cho violated election management regulations during his candidacy and led the board to approve high-interest private loans at an annual rate of 24%. In September last year, he also abolished a profit-making business without going through the general meeting."
The association is set to hold its regular general meeting on the 22nd, but those calling for the president's dismissal plan to boycott the meeting, thereby causing it to collapse due to a lack of quorum. According to the association's internal regulations, the general meeting can only be established if more than half of the 159 members are present.
If the regular general meeting fails, they plan to submit a request to convene an extraordinary general meeting, with the 'vote of no confidence against President Cho' signed by 96 delegates.
As a result, the association, which had already suffered internal conflict due to the misappropriation of national subsidies, elected a new president last June in the name of normalization, but is now facing deepening turmoil once again.
Previously, in 2023, the association's executive board requested disciplinary action, including suspension or dismissal of then-president Hwang Ilbong, from the disciplinary committee, and President Cho was elected through a general meeting in June last year.
One delegate advocating for the president's dismissal said, "The second-term president, who was elected after criticizing the first-term executive board, has instead abolished internal projects due to a lack of business viability and is trying to repay the first-term board's debt with high-interest private loans. I am also aware that both the president's side and the opposition are attempting to win supporters through monetary inducements. As a result, some members are reluctant to have their real names mentioned in the request to convene an extraordinary general meeting out of concern for possible disadvantages."
In response, President Cho Gyuyeon explained, "Some projects were abolished as part of internal restructuring because hiring employees for unprofitable projects only resulted in personnel expenses. The loans were only to repay debts created by the first executive board through business and service contracts, and in fact, we secured loans at a lower interest rate."
President Cho also added, "Regarding the alleged violation of election management regulations, the court dismissed the injunction to suspend my duties last year, so the legal dispute has been settled. It is regrettable that some members are attempting a vote of no confidence only eight months in, seemingly to monopolize the organization."
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