People Power Party Crowds in Front of Sungnyemun Gate (Namdaemun), Chants "Lee Jae Myung OUT"

[Financial News] On National Foundation Day, the People Power Party held a large-scale outdoor rally on the 3rd and launched an all-out offensive against the Lee Jae Myung administration. It was the first time in a year—since September last year—that the People Power Party directly mobilized its lawmakers, local party committee chairs and members for a protest in central Seoul. With the National Assembly's audit of state affairs set to begin on the 6th, the party sought to demonstrate its strength while sending a warning to the government and ruling party. However, some critics say little can be expected beyond a "far-right rallying effect," as groups distant from centrist voters, including "Yoon Again," inevitably exert influence at an outdoor rally.
The People Power Party held the "National Action Rally for Livelihood Recovery and National Security to Judge the Lee Jae Myung Administration" near Sungnyemun Gate in Seoul's Jung-gu district. Party leaders, including Chairman Jang Dong-hyuk, floor leader Chung Jeom-sik, Policy Committee Chair Im Lee-ja and Secretary-General Jeong Hee-yong, attended along with more than 60 People Power Party lawmakers and local party committee chairs who do not hold parliamentary seats.
The protesters denounced what they described as government failures across politics, diplomacy, national security and the economy. Attendees gathered in the streets holding placards that read, "Housing prices soaring, stocks plunging—let's punish Lee Jae Myung," "Lee Jae Myung OUT for ruining livelihoods and destroying the judiciary," "Lee Jae Myung OUT over a security disaster and pro-North Korea diplomacy," and "Arbitrary farmland inspections—is this country North Korea?" The recent abolition of the Supreme Prosecutors' Office of the Republic of Korea (SPO), as well as the landmine explosion in the Korean Demilitarized Zone (DMZ), were directly cited.
Jang Dong-hyuk took the stage and said, "For a year and a half, we endured, endured and endured some more. We could not endure any longer, so we came rushing out into the streets like this." He claimed, "South Korea is collapsing completely under Lee Jae Myung's irrational dictatorship." He continued, "A North Korean landmine blew off the feet of our soldiers, but the president calls it an unfortunate accident. Lee Jae Myung is the one who committed a crime, yet our innocent troops and citizens have become hostages of North Korea. If we leave things as they are, all citizens will become prisoners of North Korea's Kim Jong Un."
Regarding the full overhaul of the criminal justice system following the abolition of the SPO on the 2nd and the launch of the Public Prosecution Office and the Serious Crime Investigation Agency (Serious Crimes Investigation Agency), he raised his voice, saying, "The Minister of Justice, the commissioner general of the Korean National Police Agency, the head of the Public Prosecution Office and the head of the Serious Crimes Investigation Agency are all vacant. They abolished the SPO first without any preparation." He added, "They say the prison is the place where President Lee is most popular. If he continues to torment law-abiding citizens, shouldn't he go to the prison where he is most popular?"
Floor leader Chung Jeom-sik said, "The Lee Jae Myung administration has ruined people's livelihoods as well, and home prices in Seoul have risen for 86 consecutive weeks, breaking the record set under the Moon Jae-in administration." He added, "They say that if you do not farm the land yourself, they will impose a tax bomb on your farmland and even force its sale." He continued, "The introduction of single-stock leveraged ETFs caused stock prices to plunge, wiping out 54 trillion won. Through its real estate policies, it took away people's homes; through farmland inspections, their land; and through financial policies, their money."
All of the party's supreme council members also attended and unleashed criticism against President Lee. Yang Hyang-ja and Woo Jae-jun, who are considered part of the non-mainstream faction, took the stage to denounce the abolition of the SPO and reaffirm their determination to win the 2028 general election. Meanwhile, Kim Min-soo, a member of the pro-leadership faction, chanted, "It seems that a little hope is emerging under Chairman Jang's leadership. Lee Jae Myung, step down!"
The People Power Party plans to carry the momentum from the rally into the audit of state affairs and expose the Lee Jae Myung administration's failures to the public. However, some within the party have expressed concern that rallies centered on hard-line supporters will not have a positive impact on the public opinion battle. Critics also say it is inappropriate to focus on outdoor rallies when parliamentary strategy during the regular session is more important. The key question is how the People Power Party leadership can extend the anger toward the Lee Jae Myung administration, which it has confirmed among party members and supporters, beyond the party's own ranks.
The Democratic Party of Korea criticized the People Power Party's rally, defining it as an effort to "protect Jang Dong-hyuk." At a briefing in the National Assembly's Communication Hall, floor spokesperson Jeon Eun-soo said, "It is impossible to win public sentiment through an outdoor rally," and added, "With the audit of state affairs just around the corner, we cannot help but ask whether it is truly for the people for the main opposition party to take to the streets."
Floor spokesperson Jeon Eun-soo cited reports that the People Power Party had requested more than 100 attendees from each local party committee in the Seoul metropolitan area and more than 50 from each committee outside the metropolitan area ahead of the rally, while also requiring them to report whether they would attend and the total number of participants. She said, "A rally that assigns attendance quotas and checks attendance cannot be said to represent the people's voice," and questioned, "They call it a 'struggle for the people,' but isn't the real purpose to 'show off the strength of Chairman Jang Dong-hyuk'?"
[email protected] Lee Hae-ram Reporter