Ruling party submits penalty motion against opposition leader over stock holding of arms businesses

SEOUL, Oct. 14 (Yonhap) -- The ruling People Power Party (PPP) on Friday submitted a motion calling for disciplinary action against opposition leader Lee Jae-myung for holding stocks of arms companies while serving as a member of the parliamentary defense committee.

PPP lawmakers submitted the complaint with the National Assembly's Special Committee on Ethics, saying Lee has violated a duty to avoid conflict of interest.

Lee was found to hold shares in Korea Shipbuilding & Offshore Engineering Co. (KSOE) and Hyundai Heavy Industries Co., both of which supply goods to the Navy, according to the public disclosure of personal assets of lawmakers last month.

His holdings were valued at about 231 million won (US$161,000) at the time of purchase.

The DP said Lee sold off all of the holdings, though he purchased them before he was elected a lawmaker.

"Graft charges do not go away even if someone received a bribe and returned it," PPP spokeswoman Kim Mi-ae said, noting Lee's selling of the holdings does not change anything.

Meanwhile, the DP filed a complaint with the parliamentary ethics committee against PPP leader Chung Jin-suk on Thursday for making insensitive remarks about Korea's history.

On Tuesday, Chung wrote on his Facebook page that Japan never went to war with the Joseon Dynasty (1392-1910), South Korea's last kingdom, and Joseon collapsed from inside in response to the DP's criticism of a joint naval drill with Japan.

nyway@yna.co.kr
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