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🇰🇷 South Korea /Elections & Politics

Cho Kuk: Loan sharking allegations against rival could harm progressive campaign

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

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  • Cho Kuk, leader of the Rebuilding Korea Party, expressed concern over allegations against Democratic Party candidate Kim Yong-nam.
  • Cho stated that the 'loan sharking suspicions' could negatively impact the entire pro-reform election campaign.
  • He also discussed potential alliances and the need for unity among progressive parties.

Cho Kuk, leader of the Rebuilding Korea Party and candidate for Pyeongtaek B in Gyeonggi Province, expressed concern on May 23 about allegations against Democratic Party candidate Kim Yong-nam. Cho stated that the suspicions of Kim operating a 'loan sharking business' could negatively affect the entire pro-reform election campaign, not just the Pyeongtaek B race.

I am truly worried. This issue must be judged by the public's standards.

— Cho KukCho Kuk's statement regarding allegations against Democratic Party candidate Kim Yong-nam.

Speaking to reporters before attending the memorial ceremony for former President Roh Moo-hyun in Bongha Village, Cho said, "I am truly worried. This issue must be judged by the public's standards." He added that while he believes candidates should be vetted individually at this stage, unity would be necessary if there was a possibility of the conservative People Power Party candidate winning.

Regarding the growing conflict within the pro-government camp over potential alliances or mergers between the Democratic Party and the Rebuilding Korea Party, Cho described it as a "natural phenomenon" during an election. He expressed confidence that the parties, being like "comrades," could overcome these differences. Cho pledged to take the lead in pursuing alliances and integration if elected to the National Assembly.

If the possibility arises that the People Power Party candidate, especially a 'traitorous force,' wins by joining forces again, then we must obey the command of the people.

— Cho KukCho Kuk on potential alliances if the conservative candidate gains an advantage.

The allegations against Kim Yong-nam surfaced on May 22, with TV Chosun reporting that he allegedly operated a loan sharking business through a company he owned. Kim has denied the accusations, stating that the company was legally established and operated normally. He claimed he acquired the company in 2020 to help his family resolve financial issues and that the loan sharking business mentioned in the report had been inactive for the past two to three years and was in the process of liquidation.

This is a natural phenomenon during an election. We are like comrades, so I believe we can overcome it.

— Cho KukCho Kuk on internal conflicts within the progressive camp.
DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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