People Power Party to File Criminal Complaint and Refer Lee Choonseok to Ethics Committee over Alleged Stock Transactions under Borrowed Names

"The Guardian of the Rule of Law Violated the Law"
"Even Last October... Suspected of Being a Habitual Offender"

On August 5, the People Power Party announced that it would file a criminal complaint against Lee Choonseok, the chairman of the National Assembly Legislation and Judiciary Committee from the Democratic Party of Korea, on charges including violation of the Real Name Financial Transactions Act over allegations of stock transactions under borrowed names. The party also called for his resignation from the committee chairmanship.

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

Song Eonseok, acting leader and floor leader of the People Power Party, stated during a briefing that afternoon, "It is absolutely unacceptable for the chairman of the Legislation and Judiciary Committee, who should be a guardian of the rule of law, to have violated current laws. We will refer Chairman Lee to the National Assembly Ethics Committee and file a criminal complaint against him for violating the Real Name Financial Transactions Act and other applicable laws."

Song further criticized Lee, saying, "At the beginning of this year, during the asset disclosure, he reported that he did not own any stocks. However, according to photos reported by the media, it appears he traded stocks under his aide's name, not his own. Trading stocks under borrowed names is a clear violation of the law."

He added, "Last October, there were also photos reported from a parliamentary audit showing him apparently trading stocks under his aide's name. This raises suspicions that he may be a habitual offender."

Meanwhile, on this day, 'The Fact' released a photo showing Chairman Lee checking stock transaction details on his mobile phone during a National Assembly plenary session the previous day. The fact that the account holder's name in the photo was not Chairman Lee but another person raised suspicions of transactions under borrowed names.

Song Eonseok, Emergency Response Committee Chairman and Floor Leader of the People Power Party, is speaking at the floor strategy meeting held at the National Assembly on August 5, 2025. Photo by Kim Hyunmin

Chairman Lee's side explained that he mistakenly took his aide's mobile phone instead of his own when entering the plenary hall.