Seoul: The ruling Democratic Party (DP) announced its decision to expel Representative Lee Choon-suak following public outrage over allegations of stock trading under a borrowed name. This decision follows a day after Lee's departure from the party when a photograph surfaced showing him allegedly engaging in stock transactions using his aide's account, raising concerns about the government's efforts to promote transparency in the stock market.
According to Yonhap News Agency, DP leader Jung Chung-rae expressed regret and embarrassment over the incident during a supreme council meeting. Jung acknowledged the public's concern and stressed the party's commitment to maintaining transparency in financial activities. Despite Lee's resignation, the DP has resolved to proceed with measures to expel him, effectively preventing his future return to the party.
The party's internal rules allow an ethics panel to recommend expulsion for members who resign to evade disciplinary actions. Jung emphasized that the administration, under President Lee Jae Myung, is committed to holding individuals accountable for any stock-related misconduct and ensuring strict penalties for similar violations.
To address the vacancy left by Lee's departure, the DP has appointed six-term lawmaker Choo Mi-ae to lead the National Assembly's legislation and judiciary committee. This committee plays a crucial role in reviewing and approving bills before they reach a plenary vote.