DP may fast-track special counsel for first lady

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DP may fast-track special counsel for first lady

Democratic Party lawmakers including floor leader Park Hong-keun demanding an independent counsel to investigate alleged stock manipulation involving first lady Kim Keon-hee at the National Assembly on Wednesday. [YONHAP]

Democratic Party lawmakers including floor leader Park Hong-keun demanding an independent counsel to investigate alleged stock manipulation involving first lady Kim Keon-hee at the National Assembly on Wednesday. [YONHAP]

 
The Democratic Party (DP) is considering fast-tracking an independent counsel investigating into stock price manipulation and other alleged misdeeds by first lady Kim Keon-hee. 
 
According to the JoongAng Ilbo on Thursday, the DP — which has a majority of seats in the National Assembly — may propose a bill to create an independent counsel without having to go through the National Assembly’s legislation and judiciary committee by directly submitting the matter for a vote on the main floor.
 
In September, the DP submitted to the legislation and judiciary committee a bill to create an independent counsel to look into allegations regarding the first lady’s involvement in manipulating Deutsche Motor's stock price, resume falsification and corrupt corporate sponsorships of art exhibitions by her company Cobana Contents.
  
Bills submitted to the legislation and judiciary committee require a three-fifth majority to pass, or 11 of 18 votes.
 
Only 10 members of the committee belong to the DP. The bill thus has remained mired for five months in the committee, which is chaired by a member of the rival People Power Party.
 
The DP has a better chance of getting the bill passed if it is put to a vote on the National Assembly’s main floor.
 
Not only does it control 169 of the National Assembly's 299 seats, but the party could also rally up to 180 seats including the Justice Party's six seats and the seven independents who supports the DP, including former members such as Yoon Mee-hyang.  
 
The biggest concern is that even a fast-tracked process could take up to eight months.  
  
Although a fast-tracked bill is automatically put on the main floor, it must go through a 180-day review by the relevant parliamentary committee and 60 days of deliberations before it can be voted upon. 
 
Even if the National Assembly approves the bill, it faces a veto by President Yoon Suk Yeol.  
 
The DP’s move comes on the heel of its chairman Lee Jae-myung being investigated regarding several cases, including allegations that he illegally transferred money to North Korea through an underwear company in exchange for an invitation to Pyongyang, profiteered from land development schemes and engaged in corrupt sponsorships for Seongnam city’s football club.  
 
Lee has been summoned to the prosecutors’ offices for questioning twice so far this year, with a third summons expected next week.
 

Lee denied the allegations again on Thursday, particularly the accusations regarding illegal money transfers to North Korea.  
 
“You keep asking me about a novel,” Lee said when asked by reporters on whether he has ever been briefed by then Gyeonggi deputy governor on peace Lee Hwa-young on the alleged $3 million handed to North Korean officials in requesting an official invite to Pyongyang.  
 
He again asked the reporters to stop asking questions based on a fiction created by the prosecutors when asked about whether he personally thanked the Kim Seong-tae, the former chairman of underwear company SBW, who is currently under arrest.  
 
He did not answer questions regarding the Gyeonggi government’s 2019 letters that asked North Korea to invite Lee for a visit, as reported by the JoongAng Ilbo.  
 
 

BY WIE MOON-HEE, LEE HO-JEONG [lee.hojeong@joongang.co.kr]
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