02-04-2025
Opposition lawmaker faces loss of parliamentary seat for violating election law
An opposition lawmaker was sentenced to a fine of 7 million won ($4,767) on Wednesday for underreporting his assets during last April's parliamentary elections, a ruling that will strip him of his parliamentary seat if confirmed.
The Pyeongtaek branch of the Suwon District Court handed out the fine to Rep. Yi Byeong-jin of the main opposition Democratic Party for violating the Public Official Election Act.
The court also ordered the lawmaker to pay 5 million won for violating the Act on Real Name Financial Transactions and Confidentiality, which requires the use of real names in financial transactions to prevent illegal acts, such as speculation and tax evasion.
Lee was indicted in October for allegedly failing to report some of his assets during his parliamentary election campaign last April, including the stocks he owned and a record of having put up land he possessed in the central city of Asan as collateral for loans.
By law, a lawmaker is stripped of his or her parliamentary seat if sentenced to a prison term or a fine of 1 million won or more for violating the election law. (Yonhap)
