Na Kyung-won grills chairman over MTS, HTS knowledge and appointment ties

Lee Geon-tae: 'Predecessor was political figure — Jang has rich experience in social solidarity'

Jang Geon, chairman of the Korea Construction Workers' Mutual Aid Association (left), listens to a question from Democratic Party of Korea lawmaker Lee Geon-tae during a national audit of agencies under the Ministry of Employment and Labor at the National Assembly's Climate, Energy, Environment and Labor Committee on Friday. [National Assembly TV screen capture]
Jang Geon, chairman of the Korea Construction Workers' Mutual Aid Association (left), listens to a question from Democratic Party of Korea lawmaker Lee Geon-tae during a national audit of agencies under the Ministry of Employment and Labor at the National Assembly's Climate, Energy, Environment and Labor Committee on Friday. [National Assembly TV screen capture]

Ruling and opposition party lawmakers clashed at a national audit Friday over the qualifications and appointment of Jang Geon, chairman of the Korea Construction Workers' Mutual Aid Association.

People Power Party lawmaker Na Kyung-won questioned Jang's lack of financial investment experience and his ties to a presidential office official, while Democratic Party of Korea lawmaker Lee Geon-tae pushed back by pointing to the political background of Jang's predecessor and arguing that Jang's organizational management experience and work on behalf of vulnerable groups deserved recognition.

At the national audit of agencies under the Ministry of Employment and Labor, held at the National Assembly's Climate, Energy, Environment and Labor Committee, Na said Jang's application contained "not a single word" of relevant experience. "To run the Korea Construction Workers' Mutual Aid Association, you need to write about retirement pay and asset management plans in your application," Na said.

Na then asked whether Jang was familiar with MTS — a mobile trading system used by retail investors — and whether he used it. Jang said he was not well acquainted with MTS. When Na followed up by asking about HTS, a home trading system, Jang did not answer. "Is it acceptable for someone who knows nothing about finance to serve as chairman?" Na said.

The line of questioning itself drew scrutiny, however, as linking familiarity with retail investor trading platforms to an institutional head's asset management capabilities may not be a fair measure of expertise. The Korea Construction Workers' Mutual Aid Association is an institutional investor managing 5.6 trillion won ($4.23 billion) in assets and does not use MTS or HTS for asset management.

Na also raised Jang's past as co-representative of the Seongnam Citizens' Solidarity for Participatory Democracy in 2004, noting that President Lee served as the group's executive committee chairman at the time and that Kim Hyun-ji, chief of the presidential office's first secretariat, was its secretary-general. "Ultimately, someone with no financial investment experience whatsoever was placed in the chairman's seat on the strength of Director Kim's connections," Na said. Na added that Jang had not listed that civic group role in his application and asked whether he had applied for the chairmanship "relying solely on Director Kim." Jang denied it.

Lee Geon-tae, who questioned Jang next, pushed back by comparing Jang's background with that of his predecessor.

"Given the questions raised about the chairman's qualifications, I looked into what kind of person the previous chairman was," Lee said, citing former Chairman Kim Sang-in's career as an aide to former lawmaker Lee Sang-deuk, his role in the People Power Party's central election campaign committee, and his work as a member of the inauguration preparation committee for President Yoon Suk Yeol. Lee called Kim "a thoroughly political figure."

By contrast, Lee assessed Jang favorably, citing his tenures as chairman of the Korea Ceramic Foundation, chairman of the Seongnam Irooun Foundation, and president of the Doore Consumer Cooperative Federation. "He has experience running organizations," Lee said, adding that Jang had "extensive experience in social solidarity with vulnerable groups" and that he believed Jang was "qualified to lead the organization."


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