Even with Yoon Seok-yeol, KOSPI could have hit 6,000,” says Han Dong-hoon…Democrats counter, ‘It’s like saying I would have gotten a perfect score on the college entrance exam if I hadn’t played’
Democrats criticized former ruling party leader Han Dong-hoon's claim that the KOSPI could have reached 6,000 if former president Yoon Seok-yeol had not acted politically during his term, likening it to an unrealistic hypothetical about academic performance.
Members of the Democratic Party of Korea responded critically to remarks made by Han Dong-hoon, the former leader of the People Power Party, who suggested that if former President Yoon Seok-yeol had refrained from political actions such as declaring martial law, the KOSPI could have reached an index of 5,000 or 6,000. This comment was dismissed by Democratic lawmakers as a fallacy akin to saying that one would achieve a perfect score on a college entrance exam if only they hadn’t engaged in leisure activities. They argue that this is an oversimplified and unrealistic assertion that fails to consider the complex factors influencing financial markets.
Democratic lawmakers pointed out that the recent rises in the KOSPI are attributed more to legislative changes, particularly amendments to commercial laws, rather than the speculative claims made by Han. Lawmakers like Lee So-young emphasized that while the global semiconductor cycle has contributed positively to KOSPI’s growth, it was the government's assertive policy shifts and amendments that have fundamentally shaped the current market conditions. Without these legal modifications, Lee argued, the impressive results of the KOSPI seen today would likely not have been achieved.
Furthermore, other members of the Democratic Party echoed this sentiment, calling for a reconsideration of the narrative promoted by the ruling party regarding the economy. They suggested that instead of casting blame or relying on hypothetical scenarios, there should be acknowledgment and accountability for past decisions that contributed to the current landscape. These discussions highlight the ongoing political tensions in South Korea regarding economic management and the influence of legislative reforms under the current government, led by the Democratic Party of Korea, which has seen significant changes in commercial regulations during Yoon's presidency.