The Democratic Party and the People Power Party are at an impasse over the selection of Kim Yong-beom, former head of the Blue House Policy Office, as a witness for the upcoming National Audit. With the audit scheduled for next week, the National Assembly's Political Affairs Committee had not finalized its list of general witnesses as of September 30.
According to political sources, the committee's representatives from both parties continued negotiations behind the scenes on the witness list but failed to reach an agreement. A Democratic Party lawmaker stated in a call with Aju Business Daily, "We need to observe the discussions between the party representatives regarding the witness selection for Kim."r />
The People Power Party argues that the presence of Kim and Park Hyun-joo, chairman of Mirae Asset Group, is essential to investigate the hasty launch of single-stock leveraged exchange-traded funds (ETFs). However, the Democratic Party opposes this request.
In this context, People Power Party floor leader Jeong Jeom-sik criticized the Democratic Party during a press briefing at the National Assembly, claiming they aim to render the upcoming audit ineffective. He emphasized, "It has been a tradition in the National Assembly for the opposition to have the opportunity to criticize issues during the audit. Given that individual investors have suffered losses exceeding 54 trillion won, it is only natural to question how the decision to introduce single-stock leveraged ETFs was made."
He added, "Declaring that no witnesses will be selected on these matters suggests they are aware of their mistakes in the policy decision-making process and are trying to defend themselves. I consider this a despicable attempt by the Democratic Party."
Ahead of the National Audit, both parties have clashed not only in the Political Affairs Committee but also in the Industry, Trade, and Small and Medium Enterprises Committee, as well as the Finance and Economy Planning Committee, over Kim's testimony. Additionally, the Operations Committee has seen disputes regarding the appointment of Kim Hyun-ji, head of the Blue House's first secretariat, in relation to the second cabinet reshuffle, while the Health and Welfare Committee has clashed over the testimony of individuals related to Genensel amid allegations of bribery concerning former Justice Minister nominee Kim Seung-won.
The Democratic Party maintains that all ministerial appointments were conducted through proper procedures and that no illegal activities by Genensel have been confirmed, rejecting the People Power Party's claims. As both parties strongly clash over witness selection, there are concerns that this year's National Audit may focus more on political disputes than on policy verification.
Meanwhile, witnesses approved by each standing committee must receive a summons at least seven days before their scheduled appearance to be obligated to attend. The National Audit involving the Financial Services Commission and the Financial Supervisory Service, which the People Power Party is demanding Kim's presence at, is set for October 8. However, with a comprehensive audit of the financial sector scheduled for October 22, the People Power Party is expected to continue pressuring for Kim's attendance at the audit.
According to political sources, the committee's representatives from both parties continued negotiations behind the scenes on the witness list but failed to reach an agreement. A Democratic Party lawmaker stated in a call with Aju Business Daily, "We need to observe the discussions between the party representatives regarding the witness selection for Kim."r />
The People Power Party argues that the presence of Kim and Park Hyun-joo, chairman of Mirae Asset Group, is essential to investigate the hasty launch of single-stock leveraged exchange-traded funds (ETFs). However, the Democratic Party opposes this request.
In this context, People Power Party floor leader Jeong Jeom-sik criticized the Democratic Party during a press briefing at the National Assembly, claiming they aim to render the upcoming audit ineffective. He emphasized, "It has been a tradition in the National Assembly for the opposition to have the opportunity to criticize issues during the audit. Given that individual investors have suffered losses exceeding 54 trillion won, it is only natural to question how the decision to introduce single-stock leveraged ETFs was made."
He added, "Declaring that no witnesses will be selected on these matters suggests they are aware of their mistakes in the policy decision-making process and are trying to defend themselves. I consider this a despicable attempt by the Democratic Party."
Ahead of the National Audit, both parties have clashed not only in the Political Affairs Committee but also in the Industry, Trade, and Small and Medium Enterprises Committee, as well as the Finance and Economy Planning Committee, over Kim's testimony. Additionally, the Operations Committee has seen disputes regarding the appointment of Kim Hyun-ji, head of the Blue House's first secretariat, in relation to the second cabinet reshuffle, while the Health and Welfare Committee has clashed over the testimony of individuals related to Genensel amid allegations of bribery concerning former Justice Minister nominee Kim Seung-won.
The Democratic Party maintains that all ministerial appointments were conducted through proper procedures and that no illegal activities by Genensel have been confirmed, rejecting the People Power Party's claims. As both parties strongly clash over witness selection, there are concerns that this year's National Audit may focus more on political disputes than on policy verification.
Meanwhile, witnesses approved by each standing committee must receive a summons at least seven days before their scheduled appearance to be obligated to attend. The National Audit involving the Financial Services Commission and the Financial Supervisory Service, which the People Power Party is demanding Kim's presence at, is set for October 8. However, with a comprehensive audit of the financial sector scheduled for October 22, the People Power Party is expected to continue pressuring for Kim's attendance at the audit.
* This article has been translated by AI.
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