New South Korean Party Plans Severe Penalties for Financial Fraudsters

According to Odaily, the newly established right-wing party in South Korea, the New Reform Party, has announced plans to impose severe penalties on individuals involved in financial fraud and scams. This particularly targets those participating in cryptocurrency fraud, housing contract scams, and stock market manipulation. During the 13th Supreme Committee meeting held in the National Assembly on June 17, New Reform Party leader Heo Eun-ah stated that the party is committed to adopting an American-style penal code for such economic criminals, with penalties reaching 'over 100 years imprisonment'. Heo Eun-ah criticized the South Korean legal system for its lenient punishment of such offenders, citing the recent case handling of Terraform Labs founder Do Kwon as an example.