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| Rep. Kweon Seong-dong of the ruling Saenuri Party, second from left, protests Tuesday against Rep. Noh Young-min, right, of the main opposition New Politics Alliance for Democracy (NPAD) for the NPAD lawmaker's remarks during a National Assembly special committee meeting to investigate the energy diplomacy of the former Lee Myung-bak government. / Yonhap |
By Kim Hyo-jin
Opposition lawmakers criticized Finance Minister Choi Kyoung-hwan over losses caused by the acquisition of oil company Harvest Operations in Canada and its debt-ridden affiliate NARL during a National Assembly session Tuesday.
"Over 2 trillion won of taxpayer's money was wasted. Minister Choi needs to apologize to the people and step down," Rep. Hong Young-pyo of the New Politics Alliance for Democracy (NPAD) said.
Prompted by former President Lee Myung-bak's focus on natural resources, the Korea National Oil Corp. (KNOC) purchased the Canadian oil producer and its debt-ridden affiliate NARL as part of a package in 2009.
Due to the continuing losses, KNOC sold them off to a U.S.-based investment firm last year at giveaway prices, resulting in losses of 2.5 trillion won for the state.
NPAD members blamed Choi for the botched project and called on him to take responsibility. Under the previous administration, Choi served as knowledge and economy minister and led the so-called "energy diplomacy."
Opposition lawmakers argued that Choi exerted influence on the acquisition of the failing refinery.
"On Oct. 18, 2009, when KNOC purchased Harvest and NARL, Choi met then KNOC chief Kang Young-won at his office," NPAD Rep. Choi Min-hee said, raising suspicions about his involvement in the decision-making process. "During last year's audit, Kang even admitted he followed your order for the acquisition," she added.
Choi strongly denied the accusation. "I met Kang briefly without any prepared reports or information about the deal, which was underway," Choi said.
He added that he had only recommended that Kang look into the deal thoroughly before he signed, considering KNOC was inexperienced in such projects.
Lawmakers of the ruling Saenuri Party also said the accusation was based on mere speculation.
Rep. Lee Hyun-jae cast doubts over Kang's remarks, saying that at the time he was charged with a false reporting to the KNOC committee. "It is doubtful if Kang tried to avoid responsibility by dragging Choi into this," he said.
"We are here to share experience and knowledge of the head of the ministry in terms of energy diplomacy. Not to question what he did in his previous posts," Rep. Kweon Seong-dong said.
But, NPAD lawmakers launched counterattacks. "We are set to look into the bungled initiative, and that is the purpose of our committee," Rep. Hong Ihk-pyo said.
Amid growing criticism, the rival parties set up the committee to probe the previous administration's energy development projects, and started hearing reports from state-run companies and ministries from Feb. 12, which will continue until today.
They also plan to carry out hearings from March after onsite investigations are conducted.
