[Current Affairs Show] Lee Eonju: "Lee Hyehoon's 'Subscription Issue' Unacceptable, Public Opinion Very Negative"

The Real Issue with "One Person, One Vote" Is Fairness and Conflict of Interest
Central Committee Vote on the 3rd Could Become a Precursor to the Party Convention
Sponsored Resolution on the Iran Situation

■ Broadcast: The Asia Business Daily's "So Jongsup's Current Affairs Show" (Mon-Fri, 4-5 p.m.)

■ Host: So Jongsup, Political Specialist ■ Producer: Ma Yena

■ Guest: Lee Eonju, Senior Supreme Council Member of the Democratic Party of Korea (January 21)

※ When quoting content from this article, please be sure to cite "So Jongsup's Current Affairs Show."

So Jongsup: Hello, everyone. Welcome to "So Jongsup's Current Affairs Show." Today, we are joined by Lee Eonju, Senior Supreme Council Member of the Democratic Party of Korea, who also serves as the Chair of the Future Economic Growth Strategy Committee. Thank you for making time to be here despite your busy schedule.

Lee Eonju: Thank you.

So Jongsup: I heard you recently attended CES.

Lee Eonju: Yes, I was there for about five days. Since there was a floor leader election, as a member of the party leadership, I only attended the exhibition and shortened my trip to return home early. This time, the main focus was on how to utilize AI in our workplaces to enhance productivity, especially how to industrialize AI. I saw a lot of interesting things in that regard. I did feel it was a bit unfortunate that we couldn't see even more, as Chinese companies weren't as actively participating as they could have been.

So Jongsup: You must have really felt AI becoming a part of everyday life?

At CES, Hyundai Motor's Atlas Stands Out for Practicality and Productivity

Lee Eonju: I saw a variety of humanoids. In the case of Hyundai Motor, there was a demonstration where you could actually ride in a self-driving car for a test drive. I was a bit concerned, but once I tried it, it was Level 4-meaning fully autonomous driving with no human intervention. I realized there was no need for major concern; at any rate, we're keeping up with the trend.

Chinese humanoids are impressive, but when it comes to the issue of productivity-how we actually use them-the situation is different. Hyundai Motor seems to be focusing on robots that can actually work on the production line-robots that can think, judge, and adapt. Typically, when we think of industrial robots, we imagine machines that simply repeat programmed tasks. What surprised me about Hyundai Motor's Atlas was that its joints could rotate 360 degrees. While it might not look flashy, its efficiency is outstanding. I thought its practicality might even surpass its looks.

Lee Eonju, Senior Supreme Council Member of the Democratic Party of Korea, appeared on The Asia Business Daily's "So Jongsup's Current Affairs Show" on the 21st.

So Jongsup: Let's talk about the President's New Year's press conference. What was your overall impression?

Lee Eonju: Wasn't it about explaining the direction of growth for the Lee Jaemyung administration? It's not just about growth for its own sake-there's a certain philosophy behind it. I felt he focused on and broke down the direction of growth. One notable point was his emphasis on region-led growth. There are issues regarding the integration of Jeonnam-Gwangju and Daejeon-Chungnam. I think this will likely happen before the local elections. If so, I'm interested to see how this experiment will turn out.

So Jongsup: Do you think both regions will be integrated before the local elections?

Presidential Press Conference Highlights Region-Led Growth

Lee Eonju: I think both will go through. The economic impact of integration will be much greater for Jeonnam-Gwangju. Gwangju is a consumer city, while Jeonnam is a production city. If these two merge and maximize efficiency-for example, currently, energy production and consumption are separated, so energy produced nearby is distributed nationwide through KEPCO and then used locally, which means Gwangju has been paying high prices. Going forward, this could be dramatically improved. Gwangju-Jeonnam is somewhat underdeveloped industrially, but with this integration, the economic impact could be tremendous.

Some might think only Gwangju will benefit, but actually, Jeonnam's income will rise significantly as well.People inevitably tend to live in cities, but ultimately, whether you live in the city or in the outskirts, what matters is that incomes rise together. Living standards and income-those are the key points.

Daejeon-Chungnam and Gwangju-Jeonnam Likely to Integrate Before Local Elections

So Jongsup: Some are worried because the U.S. has said it will impose a 100% tariff on memory semiconductors unless there is investment in the U.S. How do you view this issue?

Lee Eonju: It's a concern. But will they really go as far as 100%? There have been discussions about imposing tariffs on semiconductor products for a while, but there hasn't been a specific figure mentioned until now. Now, they're starting to talk about it in earnest. I don't think it will be 100%, but I do think tariffs will be imposed. The U.S. said it won't treat us less favorably than Taiwan, so we need to negotiate as effectively as possible.We're number one in the world, but if we give in to U.S. pressure and keep building factories there, our own base will erode, so it's not an easy choice. Semiconductors are interconnected like links in an ecosystem.We recently posted a large trade surplus, but if we comply with U.S. demands, it could break a major dam for exports-especially since our operating profit margins are huge and we are nearly monopolizing the market. Semiconductors are ultimately what protect our national security.No matter what, we must protect them, and since China is catching up, we need to keep developing technology relentlessly.

So Jongsup: So it's crucial to negotiate with the condition that we are not treated worse than Taiwan?

Lee Eonju: It's important to keep advancing our technology, increasing our strategic and scarcity value, and thereby strengthening our negotiating power. Negotiating well is important, but if we become irreplaceable, we can speak with confidence.

President Lee Jae-myung is answering questions at the New Year's press conference held at the Blue House State Guest House on the 21st. Photo by Yonhap News

So Jongsup: The high exchange rate continues. President Lee Jaemyung predicted at the New Year's press conference that it might drop to around 1,400 won in a month or two.

Lee Eonju: The exchange rate started to rise right after the end of the COVID-19 pandemic. If you look back, after COVID-19, the U.S.

raised interest rates and withdrew the liquidity it had injected. But we made a mistake at that time. The Korean won is not a key currency. We have to closely monitor U.S. exchange rates and interest rates and follow suit.

For example, if the U.S. raises interest rates and we don't, the interest rate gap keeps widening. We missed the opportunity to raise rates when the U.S. did. It wasn't so much that we missed it as that we chose not to. Raising rates is not conducive to economic stimulus. I think it was for political reasons. That was during the Yoon Suk-yeol administration, and they chose not to follow the U.S. in raising rates. As a result, the interest rate gap became chronic. Now, we're holding rates steady while the U.S. is starting to cut, so the gap is narrowing a bit, but it needs to narrow further. The U.S. will cut rates more.We need to keep holding steady and narrow the gap. If that happens, I expect the exchange rate will stabilize.

So Jongsup: Is there no need for drastic measures?

Exchange Rate: No Silver Bullet, Unlikely to Spike Sharply

Lee Eonju: There's no silver bullet, even with drastic measures. It's not something Korea can control on its own.Drastic measures would mean raising interest rates. But with the economy in such poor shape, raising rates now would be excessive and highly disruptive. We should have raised rates along with the U.S. before, but we missed that chance. Now, the U.S. is cutting rates, and while it would be nice for us to cut too, considering the economy... But if we cut now, the exchange rate will worsen, so we have to hold out and gradually close the gap. I expect things to improve as the KOSPI is doing well, and retail investors investing in U.S. stocksare probably debating whether to return. I think Korean stocks are still significantly undervalued-SK Hynix and Samsung Electronicsstill have room to rise, and U.S. stocks face greater uncertainty going forward. So I expect Korean stocks will outperform U.S. stocks for a while, so investors will be weighing their options.

The U.S. dollar isn't particularly strong globally right now. But it's especially strong against the Korean won, Japanese yen, and New Taiwan dollar. The U.S. is pressuring these three countries to invest more in the U.S. So the market expects, "These three countries will inevitably have to invest more in the U.S., so dollar demand will rise." But recently, U.S. Treasury Secretary Bessent made a comment. When the exchange rate rises, the U.S. fiscal and trade deficits worsen. It's not in the U.S.'s interest for the exchange rate to keep rising. So I think the U.S. is intervening indirectly. In conclusion, I don't see much chance of a sharp spike from here.

So Jongsup: Let's talk politics. Representative Jung Chungrae is pushing again to amend the party constitution to introduce a "one person, one vote" system.

※ Click the video to watch the full interview.

The Real Issue with "One Person, One Vote" Is Fairness, Not Support or Opposition

Lee Eonju: I've said that I support the "one person, one vote" system. The problem is that pushing it through too quickly leads to misunderstandings. Whether it's a misunderstanding or reality, I don't know. People wonder why it's being pushed so aggressively. There's a party convention this summer. If this change is made, it will alter the convention rules. Usually, when major rule changes are made, the Convention Preparation Committee brings together the candidates to discuss and ensure fairness. After all, it's about changing the rules.

With only a few months left until the convention, this should be coordinated with those planning to run. If the current leader, who is almost certain to run and hasn't said otherwise, pushes through this change alone as the incumbent, it raises concerns about fairness and potential conflicts of interest. The reason it was voted down last time wasn't because people didn't know how to vote. The Central Committee members and party members are highly engaged, but there isn't a strong consensus on this issue. In fact, it could be interpreted as a kind of abstention.

This isn't just about being for or against "one person, one vote." At this point, it's a sensitive issue that could affect the balance of power, so fairness is essential.The leader is pushing it hard. Those raising concerns are questioning whether it's appropriate for someone to change the rules when they themselves are planning to run.That's why some are suggesting that if the leader is subject to the new rules, they shouldn't be the one making the changes, and that the new rules should take effect after this convention, not for the upcoming one.

So Jongsup: Do you share that view?

Lee Eonju: I wasn't the one who made that point, but another Supreme Council member did, and I think it's a valid argument. It would help avoid misunderstandings. The real issue here isn't support or opposition to "one person, one vote," but fairness and conflict of interest.

So Jongsup: So the argument is that it shouldn't be applied to this convention?

Should Be Discussed by the Convention Preparation Committee or Applied Starting with the Next Convention

Lee Eonju: The concern is about perceived lack of purity of intent. Perhaps it would be better for the Convention Preparation Committee to handle it, bringing together all stakeholders to coordinate.

So Jongsup: If the Central Committee decides whether to apply it starting with the August convention, it could spark a major clash.

Senior Supreme Council Member Lee Eonju predicted, "The Central Committee could serve as a preliminary battle for the party convention."

Lee Eonju: It could turn into a preliminary battle for the party convention. That's not ideal. There are still months to go before the convention, and already fighting over the rules is not a good look. It could divide the party members, which I don't think is desirable. And if you look at it mechanically, you might think one way is advantageous and another is not, but in the big picture, party members and Central Committee members are watching the whole process. They're assessing leadership. In that sense, taking this at face value won't benefit the leader either.

So Jongsup: If it doesn't pass this time, it would be a significant blow to Representative Jung, wouldn't it?

Lee Eonju: That could be the case. So he'll probably throw everything into it. But that's not desirable. There are so many pressing issues right now.If the ruling party is already fighting over this and party members are arguing, that's not good. So I think we should discuss this later, as the convention approaches, in the Convention Preparation Committee.

So Jongsup: The media often uses terms like "pro-Myung," "pro-Chung," and "Myung-Chung war." Not just the media, but politicians too. What do you think about this?

The Ruling Party Leader Should Not Show Personal Ambition Early in the President's Term

Lee Eonju: It's not normal. The President hasn't even been in office for a year, so these kinds of terms shouldn't be coming up. The situation itself is abnormal. The fact that this controversy is happening is a problem. It's very concerning, and I think we should avoid such disputes.The President has been in office less than a year, and already there's fighting over the balance of power and the rules,and even issues of conflict of interest. The timing is also highly inappropriate.If I were the party leader, even if I thought it would benefit me, I wouldn't do it at this time, considering the country and the party.If it were near the end of the President's term, maybe, but not now. It's unfortunate.

So Jongsup: Jokingly, people have asked, "Are you anti-Myung?" Doesn't the President also feel some disappointment with the party?

Lee Eonju: The President probably isn't comfortable. Usually, the ruling party or its leader doesn't show personal ambition early in the President's term.

So Jongsup: There are ongoing reports that Representative Jang Donghyuk's health is in critical condition. What is your view of his hunger strike?

Lee Eonju: It's unfortunate that the opposition leader is on a hunger strike. But honestly, I don't really understand the reason for it. What exactly is he demanding?

So Jongsup: Isn't it about demanding special investigations into the Unification Church and nomination bribes?

Lee Eonju: We're not saying no to a special investigation into the Unification Church, so the real issue is that they're saying no to a special investigation into Shincheonji.

So Jongsup: The People Power Party did say they were open to separate investigations.

Song Unseok, floor leader of the People Power Party, is speaking at the Supreme Council meeting held on the 22nd in the National Assembly Rotunda, where Jang Donghyuk, the representative, has been on a hunger strike for eight days demanding a dual special investigation into the Unification Church and nomination bribes. Photo by Kim Hyunmin

Don't Understand Why Representative Jang Donghyuk Is on Hunger Strike-Nothing to Say If I Visit

Lee Eonju: That's how it was summarized yesterday. I think it's worth discussing whythey want separate investigations,and why it has to be that way.I'm not sure why they can't be combined, so I don't really understand.The nomination bribe issue is very serious, but it's already under intense investigation.Calling for a special investigation in this situation doesn't really make sense, does it?Politically, it's unconvincing and lacks justification, so I don't really see the point of the hunger strike. That's why I have nothing to say if I were to visit him.

So Jongsup: Still, isn't it a bit odd that no one from the ruling party has visited the opposition leader during his hunger strike?

Lee Eonju: I suppose someone could go, but if you go, you can't just say nothing. So that's the dilemma. In the past, he's done things like a 24-hour filibuster,and he seems to want to show his commitment by risking himself. But it feels like it's more for internal purposes than to advance dialogue with us.

So Jongsup: There are a lot of allegations against nominee Lee Hyehoon, and the ruling and opposition parties have agreed to hold a confirmation hearing on the 23rd. What are your thoughts?

Lee Eonju: I was initially opposed to this nominee.

So Jongsup: Why?

Lee Hyehoon: The Subscription Issue Is Extremely Serious-Unacceptable

Lee Eonju: Are we including "Yoon Again" in the scope of integration? I've consistently said that "Yoon Again" should not be part of the integration. For the healthy development of the conservative bloc, there needs to be a standard for integration and inclusion. As for the subsequent allegations, I wasn't aware of them at first, but as more came out, it became overwhelming.

So Jongsup: There have been over 100 exclusive reports.

Lee Eonju: I haven't even seen them all. But above all, there's one thing that is simply unacceptable to the public.

So Jongsup: What is that?

Lee Eonju: The subscription issue is extremely serious. I think it's simply unacceptable. Who would agree with that? Regardless of political affiliation, this is a matter that puts a heavy burden on the President. Up to now, criticism has been directed at the nominee personally.But now, depending on what decision the President makes, the criticism could shift to him as well. That's the concern. Public opinion is very negative. Whether the nomination is pushed through or withdrawn, the decision should be based on the trend of public opinion.It's not something that should be done in defiance of public sentiment.

So Jongsup: Hasn't public opinion already reached a conclusion?

After the Hearing, Must Seriously Consider Public Opinion

Lee Eonju: That's why I think there should at least be a hearing. That way, the nominee has a chance to explain, and public opinion might change-though that's unlikely. Still, it's better to give that opportunity and then make a decision based on the trend of public opinion. If public opinion overwhelmingly leans one way, then it must be taken very seriously.

So Jongsup: Last question. On the 16th, you sponsored a resolution on the Iran situation, and 77 lawmakers from both parties joined?

Lee Eonju: This isn't about taking sides, but about universal human rights. I was motivated by seeing the situation-there may have been provocations by the protesters, but still,the authorities fired on the protesters, resulting in many casualties-some say as many as20,000. Now,the situation is completely locked down, so we can't get information, which is why there are no news reports.I was reminded of the May 18 Democratic Uprising.I wondered if we went through something similar. I also thought of the April 3 Incident. So I felt we couldn't remain silent. We have a very long-standing diplomatic relationship with Iran.I felt the National Assembly had to speak out to prevent further casualties, so I submitted the resolution.Afterward, I was contacted by the Iranian side. From what I heard, their perspective is very different."We cannot tolerate further casualties. Depending on that, the National Assembly will either pass the resolution quickly or wait and see," is what was said.

Sponsored Resolution on Iran Situation, 77 Lawmakers from Both Parties Joined

So Jongsup: The fact that lawmakers came together to issue a resolution is meaningful in itself.

Lee Eonju: I want to emphasize one more thing. Even though the relationship between the ruling and opposition parties is strained-with the opposition leader on a hunger strike-lawmakers from the People Power Party also joined.Representatives Ahn Cheolsoo, Cho Kyungtae, Lee Cheolgyu, Choi Hyungdu, Kwon Youngse, and Kim Daesik participated.Han Changmin, leader of the Social Democratic Party, and Park Eunjung and Jeong Chunseong of the Rebuilding Korea Party also joined.On universal issues like this, there is agreement from the far left to the far right.

So Jongsup: I hope you continue such activities. It must be rewarding work. We'll end here. Thank you for your insights today, Assemblywoman Lee.

Lee Eonju: Thank you.