Jang Dong-hyuk Slams Lee's "Self-Investigation" Special Counsel Push

Ruling Party's State Audit Backfires Fabricated Indictment Probe Becomes Complete Self-Investigation Scrapping Long-Term Holding Tax Deduction Called "Highway Robbery"

Politics|
|
By Heo Jin
||
People Power Party leader Jang Dong-hyuk delivers opening remarks at the Supreme Council meeting held at the National Assembly on the 23rd. Yonhap News - Seoul Economic Daily Politics News from South Korea
People Power Party leader Jang Dong-hyuk delivers opening remarks at the Supreme Council meeting held at the National Assembly on the 23rd. Yonhap News

People Power Party leader Jang Dong-hyuk launched a scathing attack on President Lee Jae-myung, saying "the day is not far off when the Democratic Party's caucus meeting will be held in a detention center by the judgment of the people."

Speaking at a Supreme Council meeting at the National Assembly in Yeouido, Seoul, on Tuesday, Jang referred to the recently conducted state audit, saying, "For the first time since entering the National Assembly, I witnessed a successful state audit. The 'fabricated indictment' state audit the Democratic Party insisted on turned out to be a successful probe that instead exposed the substance of the crimes."

Mocking the activities of Democratic Party lawmakers and Suh Young-kyo, chair of the Special Committee on the State Audit to Uncover the Truth Behind the Yoon Suk-yeol Administration's Political Prosecutors' Fabricated Indictment Allegations, he declared, "Only the substance of President Lee Jae-myung's North Korea remittance and Daejang-dong allegations has been brought into the light of day. They tried to remove a bump but ended up adding one instead."

Regarding the "salmon liquor party" allegations in particular, he noted, "Even after correctional officers disclosed recordings to confirm the falsity of the claims, the Democratic Party is intimidating witnesses and insisting it is perjury because they are not getting the answers they want."

Jang also criticized the fabricated indictment special counsel being pushed by the Democratic Party, saying, "They are trying to entrust defendant Lee Jae-myung's case to a special counsel appointed by himself." Citing the OECD's warning against judicial destruction, he asked, "They are bringing international shame upon themselves to protect one person, Lee Jae-myung. Are they now going to insist that even the OECD is on the side of the prosecution?"

Meanwhile, Jang characterized the recently controversial move to abolish the long-term holding special deduction (jangteukgongje) for real estate capital gains tax as "highway robbery administration," tightening his offensive on livelihood issues.

"The government drove up housing prices and is now trying to seize all those gains through taxes," he said. "People are in a dilemma where they cannot keep their homes due to the property tax bomb, nor can they move due to the capital gains tax bomb." He particularly emphasized that ordinary citizens' suffering has reached its peak due to the disappearance of jeonse (a Korean lease system requiring a large lump-sum deposit instead of monthly rent) and soaring monthly rents.

Original reporting by Heo Jin for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

Watch · Seoul Economic Daily

More →

AI KEY

Preview
Korean Corporate Intelligence HubKOSPI · KOSDAQ · 12 sectors

A live, cap-weighted view of every KOSPI and KOSDAQ sector, with same-day Korean reporting distilled by company — built for foreign investors, correspondents and analysts who need to scan Korea before the next session.

Korea Company Atlas

Preview
Market Ontology · The Feedback LoopKFTC 2025 · 92 groups · 121,954 articles

An English ontology of the Korean market — how companies, the media, the government and the National Assembly move each other in a loop. Korea's named controlling persons and designated business groups are a mechanism, not a risk to be priced blind.

SIGNAL

Pre-register
English Edition · Capital MarketsM&A · IPO · PE · Fund Flows

Pre-register for SIGNAL English Edition — a premium subscription bringing Korean capital markets coverage (M&A, IPOs, private equity, fund flows) to global institutional investors. First access to the 50% introductory rate.