The Democratic Party of Korea will hold a public briefing next week and move to reorganize follow-up systems after passing a revision to the Criminal Procedure Act, which centers on abolishing the prosecution's supplementary investigation authority, in an effort to dispel public concerns. The party appears to be placing weight on "post-legislation management," directly explaining the system changes and victim protection measures while also accelerating its response to capital market volatility.
Han Byeong-do, acting leader and floor leader of the Democratic Party, said at a Supreme Council meeting at the National Assembly on the 31st, "There must be no gaps in protecting citizens' rights or investigative vacuums during the launch of the new system." He added, "We plan to hold a public briefing next Monday to report to the public in detail on what changes and how, and what follow-up measures we are pursuing."
Han stressed, "With today's revision of the Criminal Procedure Act, the criminal justice system that has been prosecution-centered for more than 70 years is being newly set right as a criminal justice system of the people, by the people, and for the people." He said, "We will take responsibility to the end so that the Public Prosecution Office and the Serious Crimes Investigation Agency can launch stably on October 2, attending thoroughly to follow-up statutes and system reorganization." He added, "We also plan to establish an intra-party body to strengthen the rights of crime victims targeting the socially vulnerable."
Criticizing the People Power Party for delaying legislation through filibusters and a boycott of the National Assembly, he reaffirmed his commitment to pursuing follow-up legislation, saying, "We will answer people's livelihoods with speed and reforms with results."
Meanwhile, the Democratic Party decided to conduct a review of high-risk products such as "single-stock leverage exchange-traded funds (ETFs)" in connection with the recent expansion of volatility in the domestic stock market.
Han said, "Financial market volatility has expanded significantly, with circuit breakers triggered in both markets recently, causing great concern among investors." He said, "In line with the point that supply-and-demand concentration from single-stock leverage products is increasing market volatility, we will calmly and transparently review whether the product introduction process and investor protections were sufficient."
He added, "Centering on the 'K-Capital Market Special Committee,' we will communicate with financial authorities and the industry to preemptively manage sources of market instability."
