The People Power Party (PPP) and the Rebuilding Korea Party launched a joint offensive Tuesday against Kim Yong-nam, the Democratic Party of Korea's candidate for the National Assembly seat in Pyeongtaek-B, Gyeonggi Province, over allegations that he ran a lending business under another person's name.
Park Sung-hoon, chief spokesperson for the People Power Party, said in a statement that "on top of the controversy over assaulting his aides, shocking circumstances have now been exposed suggesting that Candidate Kim operated a lending business under someone else's name and pocketed high-interest profits from ordinary citizens."
"Operating a lending business under another person's name is a serious crime punishable by up to five years in prison under the Lending Business Act, and there is no way that Candidate Kim, a former prosecutor, would be unaware of this," Park added. "His role is nothing more than a bulletproof vest to launder his own crimes and defend the administration's judicial risks."
Park also criticized the Democratic Party, saying it has become "a department store of criminal suspects too embarrassing to name one by one," citing Seoul mayoral candidate Jung Won-oh over allegations of "coercing female employees into staying out overnight and drunken violence," Busan mayoral candidate Jeon Jae-soo over allegations of "receiving a Cartier watch and bribes," and Ulsan mayoral candidate Kim Sang-wook over allegations of "concurrently serving as an inside director of a lending firm and overseas prostitution."
Yoo Ui-dong, the People Power Party candidate running in the Pyeongtaek-B by-election, said, "If true, this is a serious legal violation that could nullify Candidate Kim's election even if he wins." He urged, "Candidate Kim must immediately clarify the facts. Investigative authorities must also launch a probe at once."
Cho Kuk, the Rebuilding Korea Party candidate also running in the Pyeongtaek-B by-election, met with reporters at Bongha Village in Gimhae, South Gyeongsang Province, on the same day and said in response to related questions, "I am truly concerned. This is not just an issue for the Pyeongtaek-B race — it will have a negative impact on the entire democratic reform camp's elections."
In a statement the previous day responding to the controversy, Kim rebutted the claims, saying, "It is entirely untrue, and I make clear that the establishment and operation of the companies in question were all carried out normally in accordance with legal procedures."
