As the Democratic Party's national convention approaches in five days, candidates for party leader expressed differing views on the responsibility for single-stock leverage ETFs, housing supply policies, and the process of abolishing supplementary investigative powers.
During the TV debate on August 12, Kim Min-seok stated, "I was in charge on the day President Lee Jae-myung was on an overseas trip, and there was no face-to-face report due to the unique situation of the economic team." He added, "We are stabilizing the situation with increased deposit requirements. If we had halted trading as some suggested, it would have caused chaos."
In response, Jeong Cheong-rae pointed out, "The chair of the Cabinet meeting was Kim, and he was also the one who submitted the legislation," intensifying his criticism by referencing a statement from Lee Chan-jin, the head of the Financial Supervisory Service, who said, 'We should have stopped it at all costs.'
On the topic of housing supply, Jeong noted, "President Lee's campaign promise included a commitment to supply 1.4 million homes, while LH is supposed to provide 550,000 homes, but improvements are needed due to existing issues." Kim countered, "The failure to realize the supply drive is due to disagreements among ministries, and we need a responsible investment in housing from the state, including a housing New Deal."
He further stated, "The difficulties with LH's funding and business methods are well known within the ruling party. If I become party leader, I will push for additional measures related to housing that the government has proposed, increasing the state's responsibility."
Song Young-gil remarked, "During my tenure as party leader under the Moon Jae-in administration, I proposed raising the limit for the comprehensive real estate tax exemption from 900 million won to 1.2 billion won. Although the Blue House opposed it, I persisted and succeeded. We need to change the binary thinking that equates real estate with speculation and stocks with investment."
The candidates also had differing views on the evaluation of the recent local elections. Song criticized Jeong, saying, "The President apologized to the public for losing in areas we needed to win, yet you claimed the party and government had a victory." Kim supported Song's assertion, stating, "I was the government representative at the time, and there was no such discussion within the party, government, and Blue House. The atmosphere surrounding the election was not positive." Jeong clarified, "I referred to the party and the Blue House, not the party and government."
Regarding the process of abolishing supplementary investigative powers, the candidates recalled differing memories. Kim stated, "While discussing the supplementary investigative powers, the government and Blue House requested it in April, which was acknowledged by policy committee chair Han Jeong-ae and legal affairs committee chair Seo Young-kyo." Jeong responded, "If we had processed the supplementary investigative powers according to the government's proposal, party members would have been in an uproar."
The candidates also clashed over the 2002 presidential election and the subsequent candidate unification efforts. Jeong raised his voice, saying, "Are you blaming me for the betrayal of late President Roh Moo-hyun and my departure from the party?" Kim retorted, "You ruined the presidential election with your 'Bong-i Kim Seon-dal' comment and not apologizing is the real betrayal." Jeong firmly stated, "I do not have 'departure' in my vocabulary." In response, Song countered, "One might have to leave the party for its sake. The late Prime Minister Lee Hae-chan also left the party and later became party leader."
* This article has been translated by AI.
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