"Ethics Committee Must Convene and Begin Disciplinary Action"
On August 5, the People Power Party directly criticized Lee Choonseok, a member of the Democratic Party of Korea, who is facing allegations of stock trading under borrowed names, stating, "He must immediately resign from his position as chairman of the Legislation and Judiciary Committee and be investigated."
Lee Chunseok, a member of the Democratic Party of Korea and chairman of the National Assembly's Legislation and Judiciary Committee, is checking a stock account opened under another person's name during a plenary session held at the National Assembly in Yeouido, Seoul, on the 4th. Photo by The Fact
Kwak Gyutaek, chief spokesperson for the People Power Party, stated in a commentary that day, "Chairman Lee Choonseok was caught on camera in the National Assembly plenary session trading stocks under someone else's name," adding, "This is even more shocking than the cryptocurrency trading scandal involving former lawmaker Kim Namkook."
Lee, who serves as chairman of the National Assembly Legislation and Judiciary Committee, was captured by the media using a mobile phone in the plenary session to check and trade stocks such as Naver, Kakao Pay, and LG CNS through an account belonging to someone else.
Regarding this, chief spokesperson Kwak said, "The stocks traded in the morning were even selected for the government's AI National Representative announcement that afternoon," and questioned, "Was President Lee Jaemyung's 'KOSPI 5000 era' not for the 14 million retail investors, but for Chairman Lee Choonseok?"
Lee Chunseok, Chairman of the National Assembly Legislation and Judiciary Committee, is speaking at the 1st plenary session of the 426th National Assembly (extraordinary session) held at the National Assembly on July 1, 2025. Photo by Kim Hyunmin
On this day, Lee was seen trading stocks using an account under his aide's name, not his own. According to the Public Official Ethics System, there are no securities listed in Lee's publicly disclosed assets.
Stock trading under borrowed names is highly likely to violate the Real Name Financial Transactions Act and the Public Official Ethics Act. However, Lee's side claims that he mistakenly brought his aide's mobile phone into the plenary session.
Chief spokesperson Kwak said, "While lawmaker Kang Sunwoo's aide has been reduced to running errands for food waste and even repairing bidets, now Lee Choonseok's aide is providing an account name for stock trading. Is this the qualification required to be an aide for the ruling party?" He further emphasized, "If providing a borrowed name is not an act of being an accomplice, then this could soon become a major abuse of power case, with a whistleblowing aide following in the footsteps of 'Kang Sunwoo Season 2.'"
He also urged the Democratic Party to take responsible action. Chief spokesperson Kwak stated, "If they once again respond only with silence and indifference, this time the entire Democratic Party will not be able to avoid criticism as 'accomplices.' The National Assembly must immediately convene the Ethics Committee to begin disciplinary action against Chairman Lee Choonseok for his illegal acts, and Lee must be investigated immediately."
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