Civic groups, including the Economic Justice Action Alliance, claimed that all transactions under the names of family members or close aides of lawmakers should be thoroughly investigated in relation to the allegations of proxy stock trading against Representative Lee Chun-seok.
"The Network for Improving Asset Disclosure and Information Disclosure System" (Financial Network) issued a statement on the 7th, saying that "the allegation of stock trading under the name of Representative Lee Chun-seok's aide appears to be a serious matter that raises questions about the qualifications of elected officials, as it seems to have evaded the asset disclosure system established by the Public Service Ethics Act to gain private benefits."
The suspicion of proxy stock trading arose after Representative Lee was caught by the press trading stocks under his aide's name using a mobile phone in the plenary session on 4th. Representative Lee voluntarily left the Democratic Party of Korea, and the party took expulsion measures. He also resigned from his positions as the chair of the National Assembly's Legislation and Judiciary Committee and the second committee of the Presidential Committee on Policy Planning.
The Financial Network stated, "Proxy transactions under the names of aides exploit the regulatory loophole that requires National Assembly aides to register assets but does not obligate them to disclose them," adding that "the National Assembly and the Anti-Corruption and Civil Rights Commission should conduct a thorough investigation to check the asset registration details of lawmakers and aides, as well as to clarify whether proxy transactions exist under the names of lawmakers' families and close associates."
The Financial Network is a collaborative body that includes the People's Solidarity for Participatory Democracy, the Citizens' Coalition for Economic Justice, and other groups, aimed at enhancing transparency for the government and public officials.