Yoon vetoes special counsel bill to investigate first lady

President's office claims that the DP's motive of the investigation bill is clearly intended to manipulate public opinion in its favor ahead of the general election in April. DP aruges Yoon decided to confront the people in order to shield his family

President Yoon Suk Yeol attends a New Year’s event at the Korea Institute of Science and Technology in Seongbok District Seoul on Friday. [YONHAP]

President Yoon Suk Yeol on Friday vetoed the bill that would have allowed the National Assembly to appoint a special counsel to investigate first lady Kim Keon Hee's alleged involvement in stock manipulation.

The presidential office said the proposed independent investigation is politically motivated, given that the case has undergone scrutiny for two years during the previous Moon Jae-in administration.

The veto came eight days after the Democratic Party (DP) unilaterally passed the bill at the National Assembly.

People Power Party (PPP) lawmakers decided not to vote and staged a walkout.

Yoon also vetoed another bill that would order a special investigation into a bribery scandal involving high-profile figures accused of receiving 5 billion won ($3.8 million) from private developers involved in the Daejaong-dong development project in Seongnam, Gyeonggi.

The figures include former special prosecutor Park Young-soo, who investigated Park Geun-hye's corruption scandal that led to her impeachment, and former PPP lawmaker Kwak Sang-do. Both are currently on trial.

"The special counsel investigation bills exhibit numerous issues as they were created with the purpose of manipulating public opinion ahead of the general election." Lee Kwan-sup, the president's chief of staff, said on Friday. "The Democratic Party has disregarded constitutional practices by not submitting bills that both the leading party and the opposition party can agree upon."

"The excessive investigations resulting from the special counsel probes into individuals who are already on trial for the Daejang-dong development cases violate human rights," he said. "Misleading briefings by a pro-opposition special prosecutor during the general election have the potential to violate the public's right to make informed choices."

Lee said that Kim invested in Deutsche Motor 12 years ago when she was not married to Yoon.

"The Moon Jae-in government conducted a two-year investigation, thoroughly scrutinizing the matter," he said. "Yet, [it] hasn't been able to secure an indictment, much less summon her for questioning."

Lee said that deploying police officers and prosecutors to participate in the special investigation would have a negative impact on the legal system.

The proposed special investigation would be a significant waste of taxpayer money on a case unrelated to the everyday lives of Korean people, he added.

Lee continued that the special counsel bill targeting the bribery scandal is a diversion scheme by the DP to deflect attention from DP leader Lee Jae-myung.

"The purpose of the special counsel bill is to shield DP leader Lee," he said.

Noting the potential connections between the individuals accused of receiving 5 billion won each from Daejang-dong developers and Lee Jae-myung, the presidential staffer said the opposition parties would have chosen someone inherently biased if the bill had passed.

"The pro-opposition special prosecutor is likely to interfere with the ongoing investigations and may even pressure witnesses to retract their statements, aiming to manipulate the investigation against Lee Jae-myung," he said.

He accused the DP of attempting to discredit prosecutors handling related cases, adding that additional investigations are redundant.

"We also expect a manipulation of public opinion by diverting attention away from the DP chief's connection with the development," he said.

Since May, Lee Jae-myung has been on trial due to his alleged involvement in the Daejang-dong development project in Seongnam, which took place when he was the city's mayor.

He is accused of engineering the Daejang-dong project in a way that ensures a large amount of returns for private developers.

Several stakeholders in the Daejang-dong development, led by former journalist Kim Man-bae, have testified against Lee, saying that they were told that a significant portion of the development's profits is to be handed over to Lee.

In November, Kim Yong, a close confidant of Lee, received a five-year sentence for accepting 847 million won in illegal political funds from lawyer Nam Wook, a major stakeholder in the project.

The opposition parties, led by the DP, condemned Yoon's vetoes.

"President Yoon has chosen to confront the people in order to shield his family," DP floor leader Hong Ihk-pyo said on Friday.

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]