Minerva Didnt Lie: Lawmaker
By Kim Tae-gyu
Staff Reporter
An opposition lawmaker argued Sunday that the government indeed asked local banks not to buy dollars in late 2008 as an arrested blogger known as ``Minerva,'' the Greek goddess of wisdom, claimed.
Minerva, a 30-year-old Internet pundit identified as Park Dae-sung, was arrested last week on charges of spreading false information that the government was trying to manipulate foreign exchange rates.
``On Dec. 26, 2008, the Ministry of Strategy and Finance (MOSF) convened a meeting of representatives from the country's seven biggest banks (and they) were forced to attend,'' Rep. Lee Seok-hyun of the Democratic Party told The Korea Times.
``At the meeting, I learned that banks were requested not to buy dollars, just as Park had contended. I confirmed it with multiple attendants. Accordingly, Park is not guilty,'' the fourth-term legislator said.
Park entered the public spotlight last year after precisely predicting the collapse of Lehman Brothers and stock market crashes, as well as the sharp depreciation of the Korean won.
Late last year, he claimed that the government urged banks not to buy dollars by sending an official letter in an attempt to keep foreign exchange rates low.
Reportedly, the Lee Myung-bak administration has been under pressure to do so from domestic exporters, who would sustain major accounting losses if rates were too high.
``I am not sure whether the MOSF sent a letter to banks but I believe the ministry held a meeting related to the exchange rate,'' Lee said. ``Park is not lying, the government is.''
When contacted, banks refused to confirm the meeting ― Shinhan Bank Director Park Hee-sung said he couldn't remember while Woori Bank Director Park Dong-young flatly denied it having occurred.
However, a MOSF official who declined to be named admitted that the meeting took place.
``As far as I know, banks were summoned on Dec. 26 and asked not to purchase dollars. We didn't send them any official letter, though,'' he said.