Opposition Leader Slams Stock Market as 'Gambling Den,' Demands Investigation

Jang Dong-hyuk, leader of the People Power Party, sharply criticized South Korea's stock market on July 30th, describing it as a 'gambling den.' He argued that the government's stock market policies have moved beyond mere incompetence, constituting criminal acts that warrant a parliamentary investigation and a special counsel. Jang's remarks came as the domestic stock market experienced a circuit breaker halt for the second consecutive day. He accused Kim Yong-beom, Senior Presidential Secretary for Economic Affairs, of offering 'pathetic excuses' from Brazil, claiming the market downturn was not unique to Korea and was due to individual investor dynamism. Jang warned that such statements could lead to Kim being denied a flight back to Korea. The party leader also criticized President Lee Jae-myung for remaining silent on the issue, despite previously encouraging investment with borrowed money. Furthermore, Jang addressed the ongoing debate about President Lee Jae-myung's potential pursuit of constitutional amendments for a second term. He stated that the issue would be resolved if the president simply declared, 'There will be no second term.' Jang cautioned that if the president fails to make this five-word statement, the public might move on to a different five-word phrase: 'Impeachment of Lee Jae-myung.'

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The stock market has become a 'gambling den.'