Opposition Condemns Government's Stock Support, Pension Loss
The Chosun Ilbo · Kim Hyeong-won ·
Opposition Condemns Governments Stock Support, Pension Loss People Power Party blasts forced market intervention amid KOSPI crash, 182 trillion National Pension loss
The conservative opposition parties unanimously criticized on the 6th, as the KOSPI broke below the 5,000-point mark during trading, saying, “People are shedding tears of blood due to the government’s forced stock price support.” There were also criticisms that the National Pension, worth 182 trillion Korean won, has evaporated due to the stock price decline.
People Power Party leader Jang Dong-hyeok stated on the Maeil Shinmun YouTube channel that day regarding the sharp drop in stock prices immediately after the market opened, “While the U.S. midterm election results may have had an impact, it is ultimately the result of the government’s excessive intervention in the stock market.” He added, “Because tax revenue temporarily increased due to the semiconductor boom, aren’t they trying to create a slush fund (Future Response Fund) and spend it all until the end of their term?”
Jeong Jeom-sig, the floor leader, said at a floor strategy meeting, “On the day when both the KOSPI and KOSDAQ plummeted by over 5%, turning citizens’ assets into scraps of paper, the ruling party submitted President Lee Jae Myung’s ‘trial cancellation special counsel bill’ to the plenary session of the National Assembly,” adding, “This is a bad regime focused on saving one president rather than saving the people.”
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