[Joo Young-jin's News Briefing]

When citing this interview, please explicitly specify the program name, SBS "Joo Young-jin's News Briefing." The copyright belongs to SBS.

■ Broadcast: SBS <Joo Young-jin's News Briefing> Mon–Fri (14:00–15:20)
■ Host: Anchor Joo Young-jin
■ Guest: Lee Hoon-ki, Democratic Party Lawmaker
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● Interview with Democratic Party Lawmaker Lee Hoon-ki

"Rhyu Si-min should play a role for unity... It would be better if he just came out to the field and engaged in politics"
"Kim Min-seok seems to have thought a lot about people's livelihood politics... The gap between party sentiment and public sentiment is growing"
"The government's proposal for the 'Anti-Stock Price Suppression Act' is merely an 'Act Neglecting Stock Price Suppression'... Insufficient to achieve the original intent"
"I will become the protector of 'K-retail investors'... Small investors must be protected"
"After the 'Anti-Ilbe Bill' was proposed, the Ilbe website shrunk significantly"
"The Science and ICT Committee is virtually at a standstill due to the controversy surrounding Lee Jin-sook"


▷ Joo Young-jin / Anchor: On today's "Joo Young-jin's News Briefing," our guest is Lawmaker Lee Hoon-ki of the Democratic Party of Korea. Welcome.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Hello.

▷ Joo Young-jin / Anchor: While waiting standing over there a moment ago, you must have heard us talking about writer Rhyu Si-min with reporters Seong Han-yong and Heo Min, and you must have read all the articles. What immediate thoughts come to your mind when you hear about writer Rhyu Si-min?

▶ Lee Hoon-ki / Democratic Party Lawmaker: In fact, writer Rhyu Si-min is someone not only I, but many people respected and considered a truly valuable asset to our society. But looking at him these days, while he can offer advice and such, it feels like he is somewhat emotional and filled with anger. That is what I think. So I thought his remarks yesterday were quite excessive. That is why I feel that if writer Rhyu is a commentator, he should be somewhat objective, but he takes one side, defends them, and attacks the opponent excessively without evidence. I wish he would return to the writer Rhyu Si-min of the past. Moreover, our party is at a point where we need to unite after the national convention, and all the more so, an opinion leader like writer Rhyu Si-min should play a role for unity, but instead, he is causing division and driving wedges, which is truly regrettable. If he is going to act like that, I wonder if it might be better for him to just come out to the field and do politics.

▷ Joo Young-jin / Anchor: I see. If writer Rhyu Si-min directly enters politics, wouldn't the Democratic Party become somewhat divided?

▶ Lee Hoon-ki / Democratic Party Lawmaker: I don't know. Since he keeps doing that from behind the scenes, he should either step forward with confidence, do politics, and make his stance clear.

▷ Joo Young-jin / Anchor: Understood. Before inviting you today, Lawmaker Lee, since Representative Kim Min-seok became party leader, he has established many task forces. What remains most memorable to me is what you mentioned when you appeared last time: walking through every alley of your constituency every Friday, "A Round of the Neighborhood."

▶ Lee Hoon-ki / Democratic Party Lawmaker: That is correct.

▷ Joo Young-jin / Anchor: Right. That left an impression. This time, is it the TGIF Politics People's Livelihood Team launched by Representative Kim Min-seok?

▶ Lee Hoon-ki / Democratic Party Lawmaker: It is the "TGIF Politics Alley People's Livelihood Team."

▷ Joo Young-jin / Anchor: You took on the role of leader, the executive secretary, for that. It seems Representative Kim Min-seok remembered very vividly what Lawmaker Lee Hoon-ki had been doing.

▶ Lee Hoon-ki / Democratic Party Lawmaker: It seems so. It has been about two years since I started doing "A Round of the Neighborhood," so many lawmakers around me and many local residents know about it. Representative Kim Min-seok seems to have contemplated deeply after becoming party leader. Our party was actually somewhat fixated on party members' sentiment rather than public sentiment, so he seems to have thought a lot about how to gauge public sentiment and conduct politics centered on people's livelihood. Then he contacted me and asked how it would be if all of our lawmakers did "A Round of the Neighborhood" together. So I said it would be wonderful. The idea is that every Friday, all National Assembly members and regional council members of our Democratic Party go to their respective districts and do a round of the neighborhood. By looking into every corner, we examine public sentiment, communicate, and post the results—reflections, local petitions raised there—on social media. That becomes an asset for the Democratic Party. We compile them every week, select a few among them to legislate what needs legislation, and deliver to the government or the presidential office what should be turned into policy, thereby pursuing practical politics for people's livelihoods. That is why, perhaps because it is something I had been doing, I believe this could be a major turning point for the Democratic Party. In fact, until recently, our party was fixated on things like prosecution reform or our internal one-person-one-vote system, but shouldn't we truly engage in livelihood politics? In that respect, I believe this will have a very positive effect, and if done well, it can win the empathy of the public.

▷ Joo Young-jin / Anchor: In other words, bread-and-butter issues for the public.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Exactly.

▷ Joo Young-jin / Anchor: So right now, what is being discussed a lot not only in the Democratic Party but also in the People Power Party is "party member sovereignty party" and "party member sovereignty." What could inadvertently be overlooked here is the term "citizens,"

▶ Lee Hoon-ki / Democratic Party Lawmaker: That is right.

▷ Joo Young-jin / Anchor: the sovereign citizens. In other words, shouldn't we listen to the voices of those who do not support the Democratic Party for it to lead to policy or similar outcomes?

▶ Lee Hoon-ki / Democratic Party Lawmaker: Walking around the neighborhood, what I felt the most—I meet about 500 to 1,000 residents every week as I walk for about 6 to 7 hours. But what I felt most acutely was that the gap between our party's sentiment and the general public's sentiment is growing increasingly alienated and too wide. I felt quite regretful about that, and I once mentioned it to the current party leader and brought it up in various places several times. I believe this can serve as an opportunity to bridge that gap.

▷ Joo Young-jin / Anchor: Regarding establishing this system, a kind of institutional framework—have you discussed this idea thoroughly with party members and party officials?

▶ Lee Hoon-ki / Democratic Party Lawmaker: It has only been a few days, so we plan to organize it within this week. While lawmakers will participate voluntarily, some might be passive, so we need to create a good structure so everyone can do it naturally together.

▷ Joo Young-jin / Anchor: By region, what the public and local voters want could all be different.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Therefore, while each lawmaker conducts it in their own district, depending on the situation, several lawmakers can gather around a common agenda to walk around a neighborhood, or visit specific areas, exploring various approaches. Moreover, without stopping at merely communicating on-site, the crucial part is turning that into tangible outcomes,

▷ Joo Young-jin / Anchor: Naturally.

▶ Lee Hoon-ki / Democratic Party Lawmaker: so that the public can tangibly feel it in their daily lives. I believe that is what matters most.

▷ Joo Young-jin / Anchor: I think what you just said is truly a vital point.

▶ Lee Hoon-ki / Democratic Party Lawmaker: And I believe this is putting into practice the idea that "Politics is done by the people."

▷ Joo Young-jin / Anchor: Ah, politics is

▶ Lee Hoon-ki / Democratic Party Lawmaker: done by the people.

▷ Joo Young-jin / Anchor: It may seem like National Assembly members or politicians are doing it, but when you look into the result, it is done by the people.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Of course.

▷ Joo Young-jin / Anchor: I believe that is something President Lee Jae-myung has mentioned.

▶ Lee Hoon-ki / Democratic Party Lawmaker: I see it as putting that into practice.

▷ Joo Young-jin / Anchor: In fact, constituency lawmakers and politicians usually visit their districts anyway. But rather than just going there, talking only about their own constituency, and ending it by meeting a minister to file a petition, this means carrying it through to legislation if there is a legislative task and making it into policy, right?

▶ Lee Hoon-ki / Democratic Party Lawmaker: And now, within the party, especially since the party leader is pursuing this with strong determination, he showed firm resolve to me as well, saying we should discover agendas every week, announce them, deliver them to the presidential office or the government, and produce concrete results.

▷ Joo Young-jin / Anchor: In any case, this TGIF Politics People's Livelihood Team for walking around neighborhoods—though the name can be a bit confusing—will allow the ruling party to reflect the voices of the public met in every alley directly into legislation where needed and into policy tasks where appropriate.

▶ Lee Hoon-ki / Democratic Party Lawmaker: That is correct.

▷ Joo Young-jin / Anchor: This seems worth looking forward to. Also, the fact that Lawmaker Lee Hoon-ki has walked the neighborhood for two years was something not only Representative Kim Min-seok but many others remembered.

▶ Lee Hoon-ki / Democratic Party Lawmaker: So, please look forward to a dependable Democratic Party that protects the livelihood of the people going forward. I will work hard.

▷ Joo Young-jin / Anchor: As you mentioned earlier, the gap between what party members think and hope for and what the general public desires is widening. This seems to be something that must be taken quite seriously.

▶ Lee Hoon-ki / Democratic Party Lawmaker: I believe that is extremely serious.

▷ Joo Young-jin / Anchor: Also, you have continued proposing bills recently. You mentioned introducing the Anti-Stock Price Suppression Bill; is that content included among the legislative tasks for this regular session of the National Assembly? How does it stand?

▶ Lee Hoon-ki / Democratic Party Lawmaker: Right now, I believe the foundation of the stock market has become solid through three revisions of the Commercial Act. Although stock prices dropped sharply last time due to leverage issues and fluctuated, I expect they will find normality. However, especially in the case of KOSDAQ, certain controlling shareholders drastically lower stock values—sometimes down to about one-tenth—to reduce their gift and inheritance taxes, using it as a means to evade taxes. Consequently, the value of KOSDAQ overall is being undervalued. That is why the Anti-Stock Price Suppression Act emerged—to prevent stock prices from being suppressed arbitrarily like that. When stock prices are suppressed, the biggest victims are general investors, retail investors. While controlling shareholders benefit, general investors suffer tremendous losses; if a stock's value drops to one-tenth, how huge would that loss be? But that has continued conventionally, leading to KOSDAQ's undervaluation. To prevent this, Lawmaker Lee So-young of our party was the first to propose the Anti-Stock Price Suppression Act last May. After it was proposed, the President showed considerable interest, and the market reacted. However, not long ago, the government submitted a legislative bill, but parts of the government's proposal serve to defeat the original purpose, acting more like an "Act Neglecting Stock Price Suppression" rather than an "Anti-Stock Price Suppression Act." As it happened, while I was also preparing an amendment bill, about two days after the government bill was announced, I held a press conference demanding they withdraw the government proposal and draw it up again, and I introduced my bill. So now our party is comparing Lawmaker Lee So-young's bill with mine, and since the government proposal undermines the intent, we are preparing to pass it in this regular session of the National Assembly centered on my proposal and Lawmaker Lee So-young's proposal.

▷ Joo Young-jin / Anchor: To make what you just said easier to understand for our viewers: when the tax reform plan was announced previously, what we discussed was that some corporate owners need to pass on inheritance, but because inheritance tax burdens are so heavy, they deliberately depress stock prices to ease that burden. So, isn't that suppressing stock prices? Preventing this is the core of the Anti-Stock Price Suppression Bill. From your perspective, Lawmaker Lee, why do you view the government's bill as rather an act of neglect? What do you see as the biggest problem?

▶ Lee Hoon-ki / Democratic Party Lawmaker: In the bill I introduced, if the stock value—meaning asset value—is 100,000 won per share while the stock price is around 80,000 won, a ratio of 0.8 or below, it is considered artificially suppressed as a criterion. Doing so brings the number of target companies to about 1,300. However, while my proposal uses an absolute evaluation, the government's proposal uses a relative evaluation targeting the bottom 10% of KOSDAQ companies. Thus, the target is only about 100 companies, which is one-tenth. That scale cannot achieve the original purpose. A substantial number of companies are currently doing this. Therefore, setting the benchmark at 0.8 would be quite effective and fundamentally eliminate the incentive to lower stock prices. It is a law with that kind of effect.

▷ Joo Young-jin / Anchor: It seems lawmakers will process this bill amid considerable attention during this regular session of the National Assembly.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Also, previously, Han Jeoung-ae, then Policy Committee Chair—who has now become Secretary-General—spoke, made suggestions, and stated that we would prepare again centered around Lawmaker Lee So-young. Therefore, we plan to organize our party's proposal shortly and make sure to pass it during this regular session. Given the various conditions of the stock market, especially KOSDAQ, if this bill passes, I believe it will be quite effective, especially for small investors, retail investors. That is why I personally intend to become the "Protector of K-Retail Investors." Such people are important, aren't they?

▷ Joo Young-jin / Anchor: You will become the Protector of K-Retail Investors, understood. Many people will likely watch the process of handling the Anti-Stock Price Suppression Bill in the regular session. Was it last June? You proposed the Anti-Ilbe Bill. How is the situation with that?

▶ Lee Hoon-ki / Democratic Party Lawmaker: I hear that after I introduced the bill, the Ilbe website shrank significantly and posted an official notice.

▷ Joo Young-jin / Anchor: After the bill was proposed.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Not long ago, I think it was in early August, they said operations had become very difficult and advertisements were not coming in, so they would have to accept paid members. They also stated that if things go wrong, they might have to shut down due to operational difficulties. I think the bill I proposed had an impact, and although it hasn't passed yet, what I was most concerned about was this: young people seemed to regard posting mockery on Ilbe Storehouse as just a trend. Without much awareness of the problem, they felt it would be weirder if they didn't do it, thinking, "This is a trend and a movement." But once such a strong bill was introduced, they seem to have worried a lot, realizing, "If this goes wrong, it could become a serious problem." So, while laws are not always ideal and people voice various opinions regarding diversity in our society, I wonder if regulating through law is unavoidable when it continues to exert a negative influence on our society.

▷ Joo Young-jin / Anchor: Being active in the National Assembly's Science, ICT, Broadcasting and Communications Committee, you probably face dilemmas whenever you propose such bills. You might worry whether a bill targeting people who seem to engage in very harmful activities—infringing on others' privacy, mocking, and defaming—might inadvertently stifle freedom of expression, a right guaranteed by the Constitution.

▶ Lee Hoon-ki / Democratic Party Lawmaker: I did have those concerns. I believe freedom of expression is meant to help our society find greater health through diversity, not to cause social conflict and significantly degrade the quality of our society. So in fact, I deliberated a great deal and worried about how many opinions would arise when introducing this law, and I proposed it in June.

▷ Joo Young-jin / Anchor: Just the proposal of the bill alone seems to have had a considerable impact on Ilbe.

▶ Lee Hoon-ki / Democratic Party Lawmaker: I believe there is an effect for now. I don't believe punishment is the cure-all.

▷ Joo Young-jin / Anchor: I hope the details of such discussions become widely known during the National Assembly's debate process going forward. A meeting of the Science and ICT Committee was held recently, and ruling and opposition lawmakers clashed heavily in the committee, likely over the issue of Lawmaker Lee Jin-sook.

▶ Lee Hoon-ki / Democratic Party Lawmaker: That is correct.

▷ Joo Young-jin / Anchor: Eventually, in the House Steering Committee, a resolution urging the expulsion of Lawmaker Lee Jin-sook was passed, led by the Democratic Party.

▶ Lee Hoon-ki / Democratic Party Lawmaker: It was passed today.
 
▷ Joo Young-jin / Anchor: Then what will Democratic Party lawmakers do regarding Lawmaker Lee Jin-sook in the Science and ICT Committee?

▶ Lee Hoon-ki / Democratic Party Lawmaker: I also find it truly frustrating because there is so much work to do in the Science and ICT Committee. In particular, while media and broadcasting reform took center stage during the first half, the committee is the main standing committee for AI. There is an enormous amount of AI-related work. There are diverse tasks involving information and communications, science and technology, and various other fields, yet it is almost at a standstill. We cannot even convene the committee because of Lawmaker Lee Jin-sook. Now that they are pushing for expulsion, sitting down together to hold a standing committee meeting is awkward. I hope the issue gets resolved quickly.

▷ Joo Young-jin / Anchor: Indeed. The leadership of both the ruling and opposition parties must have concerns about how to resolve this. Regardless, sitting face-to-face at the standing committee level is unavoidable for now under current circumstances. In this year's regular National Assembly session, what do you consider the task you care about most—your task and the National Assembly's task?

▶ Lee Hoon-ki / Democratic Party Lawmaker: The Anti-Stock Price Suppression Act I mentioned earlier.

▷ Joo Young-jin / Anchor: The Anti-Stock Price Suppression Bill.

▶ Lee Hoon-ki / Democratic Party Lawmaker: That is one, as the protector of K-retail investors. Another is that I intend to push strongly for the Anti-Ilbe Act mentioned earlier as well.

▷ Joo Young-jin / Anchor: Understood. We will continue to watch the discussion process in the National Assembly's Science and ICT Committee during the regular session, and if bills are passed along the way, we will invite you again to hear about the specific contents of the bills and what future aftermath there might be. Thank you for speaking with us today.

▶ Lee Hoon-ki / Democratic Party Lawmaker: Thank you.

※ Detailed contents can be checked in the video.