Allegations that Democratic Party of Korea candidate Kim Yong-nam, running in the Pyeongtaek-eul National Assembly by-election in Gyeonggi, "operated a lend business under a borrowed name" have emerged as a key variable in the June 3 local elections and by-elections. Kim said the company was "preparing liquidation procedures," but records show it renewed its lend business registration on the 18th, three days before the official campaign kicked off. As the People Power Party and the Rebuilding Korea Party press for his resignation, the Democratic Party of Korea says, "Don't tell another party what to do."
Yoo Ui-dong, the People Power Party candidate running in the same district, held an emergency press conference at the Yeouido central party headquarters on the 25th, saying, "It is shocking that someone seeking to become a lawmaker dabbled in a usurious lend business that sucks the lifeblood of ordinary people and ran it under a borrowed name to hide it," and added, "Kim should immediately step down as a candidate, and President Lee Jae-myung and the Democratic Party of Korea should not remain silent about the allegations against Kim and should answer."
Rebuilding Korea Party candidate Cho Kuk also said on CBS Radio that day, "It is seriously hindering our goal of reducing the People Power Party, a party of insurrection, to zero," and "It does not meet the public's expectations for public officials at all." He also said, "Because of the allegations against Kim, the drive of those running in the democratic reform camp is weakening. It is having a very negative impact on local races." In effect, he meant Kim should withdraw from the race.
They also called for a party-level ethics inspection. However, the Democratic Party of Korea said it is hearing the candidate's explanation and views the inspection demand as "negative campaigning." Cho Seung-rae, the party's chief general election director, expressed displeasure at a press briefing the previous day, saying, "Why are they telling another party what to do?" He added, "Every time they open their mouths, candidate Cho Kuk and Innovation Party officials engage in negative campaigning against our Kim Yong-nam," and said, "There is a code of conduct that comrades who have crossed the line of fire and the revolution of light must keep." On the allegations of a borrowed-name lend business, he said, "We are listening to his explanation."
In political circles, there is speculation that this situation will become a variable not only in Pyeongtaek-eul but also in battleground races such as Seoul and Busan. Not only the allegations themselves but also how the Democratic Party of Korea, which nominated the candidate, responds and comports itself will affect voters, they say. In the Seoul mayoral race, Democratic Party of Korea candidate Chong Won-o and People Power Party candidate Oh Se-hoon are in a close contest; in the Busan mayoral race, Democratic Party of Korea candidate Chun Jae-soo and People Power Party candidate Park Heong-joon are neck and neck; and in the Busan Buk-gap by-election, Democratic Party of Korea candidate Ha Jung-woo and independent candidate Han Dong-hoon are locked in a tight race.