“I Received a Call from an Executive of the Ruling Party in Busan”

It has been revealed that on November 24, when the process of electing the first president of the merged stock and futures exchange was under way, member of the Busan branch of the Uri Party called the labor union of the Stock Exchange and Kosdaq Committee and asked their opinions on the nominees.

Regarding this, suspicions are arising on the possibility that politicians of the Busan branch of the ruling party are trying to exert influence on the nomination of the president of the merged stock and futures exchange, an organ that has no government shares.

Kim Byung-ryool, chairman of the Korea Stock Exchange union, said on November 28, “A member of the Busan branch of the Uri Party called on the afternoon of November 24 and asked the union’s opinion on the three candidates nominated for the presidential position: former president of Korea Development Bank Jung Geon-yong, president of the Korea Deposit Insurance Corporation Lee In-won, and director of the Korea Stock Exchange Kang Young-joo.”

Chairman Kim added, “I remember he was not an incumbent assemblyman, but a member of the policy department.”

Bae Heung-soo, chairman of the Korean Stock and Futures Exchange union, a joint union of the Kosdaq Committee and the Korea Futures Exchange, also said, “I was asked by a member of the Busan branch of the Uri Party, at around 4:00 p.m. on November 24, who among the three candidates for president I support and who I do not.”

Chairman Bae explained, “I heard the Uri Party was asking questions for a policy inquiry, and I answered ‘anyone is fine as long as it is not Kang Young-joo, the current president.’”

Jin-Hup Song Chang-Won Kim jinhup@donga.com changkim@donga.com