Lee: "There is no provision to punish vote-buying with money or gifts in private economic organizations" ... Calls for Legislative Review

[Financial News] President Lee Jae Myung called on the government on the 29th to review legislation that would allow the punishment of vote-buying through the exchange of money or other valuables in elections for the heads of private economic organizations and similar groups.
During the 42nd State Council of South Korea meeting held at Cheong Wa Dae's main building that day, President Lee discussed elections for the heads of private organizations and pointed out, "Exchanging money and buying votes is a very bad act that must be eliminated, but there is no provision for punishment."
The remarks came as President Lee was discussing the progress of reforms at the National Agricultural Cooperative Federation (NACF) with Song Mi-ryeong, minister of the Ministry of Agriculture, Food and Rural Affairs (MAFRA). He noted that, unlike the provision punishing the exchange of money and other valuables in NACF elections, general private-organization elections have no rule punishing vote-buying. He added that the matter was also under review by the Cheong Wa Dae secretariat and asked which government ministry should take charge of the legislation.
Citing private economic organizations as an example, President Lee said, "Becoming the head of a private economic organization comes with enormous economic interests." He noted that the head of an organization may receive compensation or have opportunities to obtain improper gains during transactions, adding, "People buy votes with money because there are economic interests at stake."
President Lee also cited economic benefits as a criterion for determining whether regulation is necessary. "If there are economic interests involved and it is worth buying votes with money, there may also be a need for regulation," he said.
President Lee instructed Lee Jin-su, vice minister of the Ministry of Justice, to review the matter. He also mentioned the possibility of limiting the scope of application through an enforcement decree, taking an organization's size and assets into account. The intent was to avoid broadly regulating private organizations.
He then stressed, "We must not expand criminal penalty provisions indiscriminately just because they are deemed necessary."
[email protected] Seong Seok-woo Reporter