Chung Jeom-sik Renews Call for Parliamentary Investigation into 'Stock Market Turmoil'

▲ Democratic Party Acting Leader and Floor Leader Han Byeong-do (right) and People Power Party Floor Leader Chung Jeom-sik converse after attending a plenary session at the National Assembly on July 31.

People Power Party Floor Leader Chung Jeom-sik renewed his call to the Democratic Party today (August 5) for a parliamentary investigation into the "stock market turmoil," emphasizing, "If the Democratic Party truly wishes for the Lee Jae-myung administration to succeed, it must accept the parliamentary investigation."

Writing on Facebook today, Floor Leader Chung stated, "We have demanded a parliamentary investigation to determine the causes and responsibilities behind the KOSPI and KOSDAQ stock market turmoil, but the ruling party's reaction has been lukewarm."

He stated, "The purpose of our demand for a parliamentary investigation is not to engage in political strife, but to 'examine' state affairs in order to restore damaged market trust."

He pointed out, "If questioning is conducted at the level of National Assembly standing committees, it results in separate questioning where the Strategy and Finance Committee calls the Deputy Prime Minister for Economy and the Political Affairs Committee calls the Financial Services Chairman, leaving us with fragmented sessions. There is also no proper opportunity to question key responsible official Kim Yong-beom, Chief of Staff for Policy at the Blue House."

Floor Leader Chung argued, "Shouldn't we gather key figures in one place—such as Chief of Staff Kim, Deputy Prime Minister for Economy Koo Yun-cheol, and Financial Services Commission Chairman Lee Eok-won—to thoroughly question why single-stock leverage ETFs were introduced so hastily and recklessly?"

He added, "It is also very important to examine whether the National Pension Service was managed appropriately amid the recent turmoil in the stock market," and further explained, "This is about protecting the public's retirement funds."

Floor Leader Chung added, "The more the ruling party panics and rejects the parliamentary investigation, the more it confesses that the Lee Jae-myung administration is the main culprit behind the stock market turmoil," and concluded, "Let's have a genuine, policy-focused parliamentary investigation. I look forward to a positive response from the Democratic Party."

(Photo: Yonhap News)

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