Lee Okwon Refrains from Commenting on Commission Restructuring
Confirmation Hearing Marked by Ruling and Opposition Party Clashes
Debate Continues Over the Dissolution and Future of the Financial Services Commission
Lee Okwon, nominee for chairman of the Financial Services Commission, refrained from making specific comments regarding the organizational restructuring of the commission on September 2, stating, "It is not appropriate to express opinions such as support or opposition when a clear plan has not yet been presented."
At the confirmation hearing for the Financial Services Commission chairman held by the National Assembly's Political Affairs Committee that day, Lee responded to a question from Yangsoo Lee, a lawmaker from the People Power Party, who asked whether he believed the dissolution of the commission would be handled at the National Assembly plenary session on the 25th. Lee stated, "I do not think it is appropriate to answer or discuss this matter based on assumptions," making his position clear.
Lee Okwon, nominee for Financial Services Commission chairman, is reviewing documents at the confirmation hearing held by the National Assembly's Political Affairs Committee on September 2, 2025. Photo by Kim Hyunmin
When Assemblyman Lee commented that "as the nominee for chairman, you do not appear to have a firm conviction to defend the commission," Lee Okwon responded, "If the details are made public and there is an opportunity to express my opinion, I will speak up when necessary." Regarding the suggestion that, as a former Vice Minister of Strategy and Finance, he might be aiming to become the Minister of the newly integrated Ministry of Economy and Finance after the dissolution of the commission, Lee firmly denied it, saying, "That is absolutely not the case."
The confirmation hearing for the Financial Services Commission chairman was briefly recessed and then resumed shortly after opening in the morning due to clashes between the ruling and opposition parties over the issue of organizational restructuring. Previously, reports indicated that the government and ruling party planned to handle the government organization act, which centers on the dissolution of the commission and other economic ministry reorganizations, at the plenary session on the 25th. In response, opposition lawmakers repeatedly questioned whether it was appropriate to hold a confirmation hearing for a chairman who would serve for only ten days. Kang Junhyun, a lawmaker from the Democratic Party of Korea and the ruling party's secretary, countered, "Yesterday's meeting between the party and government was to listen to explanations and discuss the restructuring. It is not a dissolution but a functional adjustment," and added, "A confirmation hearing is, of course, necessary."
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