Lee Bok-hyun, head of the Financial Supervisory Service, expressed his opposition on the 18th regarding the ruling party's proposal for a reexamination of the Commercial Act, stating it is "returning to a dangerous path."
During a meeting of the National Assembly's Political Affairs Committee held in Yeouido, Seoul, Lee said in response to a question from Lee Jung-moon, a member of the Democratic Party of Korea, asking whether there was any change in his position of "I will oppose the exercise of the reexamination right even at the risk of my position," "We have already come quite far down a dangerous road, even if it is not the correct choice."
Earlier, on the 13th, at an open discussion aimed at building governance for the benefit of corporations and shareholders, Lee stated, "I cannot accept a decision-making process that rolls back discussions on enhancing shareholder value," and added that he opposes the exercise of veto power over the Commercial Act proposal, saying, "I will oppose it even at the risk of my position."
Lee noted that there are both long, safe paved roads and dangerous roads that can be taken quickly on the journey toward the development of capital markets, saying, "What is somewhat disappointing about the opposition party is that it seems there was a feeling of pressing the accelerator too quickly, despite the need for preparation."
He added, "Although corporations blame the dangerous road, I feel a sense of regret that honestly, they seem to have not wanted to start off."
Meanwhile, at the meeting, there were also comments that Lee Bok-hyun's remark about "putting his position on the line" regarding the rejection of the exercise of the reexamination right was excessive. Yoon Han-hong, the chairman of the Political Affairs Committee, pointed out, "Why do you use such reckless language as to put your position on the line? The head of the Financial Supervisory Service is not the one who directly handles the (Commercial Act) work."