[Editorial] Ruling Camp`s Rejection of Independent Counsel Bill Is Unjustifiable

At the National Assembly`s Legislation and Judiciary Committee meeting yesterday the opposition Grand National Party (GNP) passed the revision of the special counsel bill that it had sponsored, which focuses on investigation into Hyundai’s slush fund of 15 billion won. The GNP led by new chairman Choe Byung-yul can be viewed as having made a realistic choice in order to avoid political deadlock.

The GNP`s choice is somewhat understandable, but there still remains frustration in that the scope of the investigation was limited to the revised bill. The bill excludes the transfer of 223.5 billion won, out of Korea Development Bank`s 490 billion-won loans to Hyundai, to the North through Korea Exchange Bank, usage of the rest of the money, and allegations regarding transfer to the North by Hyundai Engineering and Construction and Hyundai Electronics from May to October 2000. In addition, the GNP floor leader Hong Sa-duk made clear that former President Kim Dae-jung would be exempt from any investigation and indictment that are not up to public demand for disclosing the truth.

Anyway, the scope of the investigation was limited to allegations that former culture and tourism minister Park Jie-won had received 15 billion won from former Hyundai executive Lee Ik-chi and allegations involving Cheong Wa Dae, the National Intelligence Service and the Financial Supervisory Commission on the secret transfer to the North.

The opposition party already made many concessions to the revised bill. Therefore, if the ruling party and the president rejected the bill, it cannot be justified. Cheong Wa Dae had hinted at its acceptance of the revised version of the bill. If the GNP’s new leadership accepted Cheong Wa Dae`s position in spite of opposition from within the party, now the ruling camp should accept the revised bill. If the ruling camp did not cooperate in passing the bill, considering the impact on parliamentary elections next year, the ruling and opposition parties will fight, causing a political deadlock. And the ruling camp will be held accountable for the resulting political instability.

In order not to be tied to what the former government did, the new government should clear all suspicions related to the secret transfer to North Korea by accepting the new independent counsel bill. The ball is in Mr. Roh and the ruling camp`s court. They should take logical action to meet public demand for the truth.