As Lee Bok-hyun, the head of the Financial Supervisory Service, expressed his resignation following Acting President Han Duck-soo's exercise of the right to request reconsideration of the 'Commercial Code Amendment,' the ruling party leadership strongly criticized him, saying, 'Packing up and leaving the office is the correct attitude.'

Kweon Seong-dong, the floor leader of the People Power Party, gives a congratulatory speech at the seminar on utilizing personal information for becoming an AI powerhouse, held at the National Assembly member's office building in Yeouido, Seoul on Nov. 2. /Courtesy of News1

Kweon Seong-dong, the ruling party's floor leader, met with reporters after a meeting of lawmakers on the 2nd and, when asked how he viewed Lee Bok-hyun's resignation, said, 'If a public official has expressed that they would resign if a veto is exercised against the public, they should not expect to have it declined,' adding, 'Submitting a resignation letter and packing up to leave the office is the correct attitude for a public official and represents keeping a promise to the people.'

Regarding Lee's comment that 'if President Yoon Suk-yeol were present, the veto would not have been exercised,' he remarked, 'That is even an arrogant attitude,' saying, 'How can the head of the Financial Supervisory Service dare to assert unilaterally that the president would share his thoughts based on my public experience? That cannot happen.'

Earlier, Lee had stated that the Commercial Code Amendment should be processed and expressed, 'I would stake my position on it.' The amendment passed the National Assembly plenary session on the 13th of last month. However, the day before, Acting President Han Duck-soo acknowledged the legislative intent but noted, 'We need to find alternatives that minimize side effects,' and exercised the veto right regarding the amendment.

Later, on that day, Lee hinted at his resignation during the CBS radio program 'Kim Hyun-jung's News Show,' saying, 'I recently contacted the Financial Services Commission chair to express my position.' He also added, 'I am convinced that if President Yoon Suk-yeol were here, the veto would not have been exercised,' stating, 'Fundamentally, we are a conservative government, and fair competition in the market is a core value of conservatism.'