"President Must Follow Judicial Procedures"... Lee Bok-hyun Supports 'Yoon's Arrest' [Financial Authorities Focus]

Lee Bok-hyun, Head of the Financial Supervisory Service, points out

"No one, including the President, should influence the execution of law enforcement agencies"

Mentions economic uncertainty and states "Judicial procedures must be followed"

"I tried not to speak as much as possible, but I can't help it. Everyone lives as they are."

On the 6th, at the press room of the Financial Supervisory Service in Yeouido, Seoul. Lee Bok-hyun, head of the Financial Supervisory Service, visited for a New Year's greeting. After meeting with reporters, he spoke out. He indirectly supported the execution of the arrest warrant by the High-ranking Officials' Crime Investigation Agency for President Yoon Suk-yeol. Lee was once known as 'Yoon Suk-yeol's man.' However, he explained that he organized his position like this because economic uncertainty could increase.

In a meeting with reporters that day, he said, "No one, whether it be the President, the Minister of Justice, or the Minister of the Interior and Safety, should influence the execution of law enforcement agencies." He added, "Things that must follow judicial procedures should follow judicial procedures."

Lee's remarks are interpreted as an indirect criticism of the situation since the 3rd, where President Yoon refused to be arrested. The Presidential Security Service blocked the legitimate warrant execution issued by the court at the President's residence in Hannam-dong, Seoul, and even had a physical altercation with the police. Additionally, about 30 members of the ruling People Power Party gathered in front of the President's residence to prevent President Yoon's arrest.

Lee also stated that such political uncertainty is exacerbating economic instability. He said, "The exchange rate is showing rapid volatility, rising slightly from 1,440 to 1,450 won," and "Such volatility is unconditionally bad for the interests of our economic entities." He further added, "If the exchange rate is not stabilized, the room to lower the base interest rate disappears," and "If lowering the base interest rate is difficult, the difficulties of the national economy may increase."

He pointed out, "It is not appropriate to make excessive claims that can affect the overall operation of the national economy," and "It is also undesirable to burden the operation of national economic policy based on those excessive claims."

Lee was once known as 'Yoon Suk-yeol's man' while frequently working with President Yoon during his prosecutor days. As such, Lee's status inside and outside the department once greatly exceeded the level of a typical head of the Financial Supervisory Service. However, there is an evaluation that he has come forward with a principled statement in the face of recent political uncertainty.

Kim Ik-hwan, Reporter lovepen@hankyung.com