Politician Lee Jae Myung calls for greater accountability in the Itaewon Tragedy and urges swift action on economic crisis

Lee Jae Myung, the leader of the Democratic Party of Korea, recently commented on the first trial verdict related to the Itaewon tragedy, saying, "The public does not feel that true accountability is being established for those who should be held responsible."

On September 29, the Seoul Western District Court acquitted Park Hee Young, the mayor of Yongsan District, of charges related to the inadequate response to the Itaewon disaster while sentencing former Yongsan police chief Lee Im Jae to three years in prison.

Lee Jae Myung questioned, "This isn’t just about lower-level officials. When over a hundred people have died, should accountability only be discussed at the level of district police chiefs and mayors?"

He added, "The court's reasoning is clear. This was a man-made disaster that could have been prevented if those in their respective positions had fulfilled their duty of care. We must thoroughly uncover the truth and hold the responsible parties accountable. More effort is needed."

Lee Jae Myung also pointed out the ongoing economic crisis, especially the increasing number of small business closures, and noted that the construction market is also in decline. "As a result, the instability and risks in the financial market are significantly increasing," he warned.

He expressed concern, saying, "The delinquency rate is skyrocketing, and there are even worries that we might need to consider the possibility of a bank run (mass withdrawal of deposits). Proactive preventive measures are absolutely necessary."

Lee Jae Myung also criticized the ruling party, stating, "The Democratic Party has been consistently calling for swift action, but the ruling party remains unresponsive. Despite the fact that they, too, have promised to raise the deposit insurance limit, their attitude is incomprehensible. If the delay continues, the Democratic Party will move forward by designating this issue as a fast-track bill to ensure its swift passage."

He further remarked, "The ruling party’s behavior is perplexing. The proposal to raise the deposit protection limit from 50 million KRW to 100 million KRW (37,736.28 USD~75,472.56 USD) is something the public wants, the Democratic Party has promised, and even the ruling party has committed to. However, since the matter falls under the Financial Committee, which is chaired by the ruling party, they are failing to address it."

Lee Jae Myung concluded by urging, "Instead of focusing on irrelevant matters and obstructing the opposition, the ruling party should immediately agree to raise the deposit protection limit to 100 million won and expedite the legislation. This is originally the responsibility of the government and the ruling party."

Meanwhile, the Democratic Party announced that on October 3, when official election campaigning begins, Lee Jae Myung will visit Yeonggwang in South Jeolla and Geumjeong in Busan to support candidates in the upcoming by-elections.