President Lee Myung-bak on Tuesday deferred a decision on whether to accept a parliamentary motion authorizing an independent counsel investigation into suspicions surrounding his retirement home project, the presidential spokesman said.

The bill was one of the agenda items at a Cabinet meeting, but Lee and other officials agreed more time is needed before deciding how best to handle the measure, said presidential spokesman Park Jeong-ha. Lee has until Friday to either endorse or veto the measure.

“This was discussed at the previous Cabinet meeting and we have also been collecting expert views,” Lee was quoted as saying. “But we need to have more time to be extra careful and to hear more views. As two to three more days are left before the deadline, we’d better have more time to contemplate.”

The ruling Saenuri and main opposition Democratic United parties passed the bill through parliament early this month to look into persisting suspicions of irregularities over the now-defunct project to build a house for Lee to move into after leaving office next year.

Presidential aides have strongly objected to the measure for giving the opposition party the right to put forward candidates to lead the investigation, saying it goes against a Constitutional Court ruling that a special prosecutor should be independent of any political allegiance.

“In principle, we agree on the bill’s purpose and on accepting a special investigation,” spokesman Park said. “But the point of pondering for the president and the presidential office is whether it is right to endorse a problematic clause and make a precedent.”

Officials said it would be the first time in South Korea an opposition party would be given the right to recommend special prosecutor candidates. In all nine independent counsel cases, candidates were recommended by either the Supreme Court chief justice or the Korea Bar Association.

On Sunday, Lee held a meeting with law experts to hear their views on the bill.

The scandal centers around a deal last year to buy a plot of land in Naegok-dong on the southern edge of Seoul for a retirement home for Lee and auxiliary facilities for security personnel. The land was bought jointly by Lee’s son, Si-hyung, and the presidential security service.

The cost was not shared evenly, however, with the security service believed to have paid too high a price for its site in what the opposition claims was a scheme to allow the 34-year-old son to profit from buying the land at a below-market price.

The presidential office has flatly rejected suspicions it was an illicit scheme to help Lee’s son profit. Lee later scrapped the project and decided to move into his existing private house in Nonhyun-dong in southern Seoul after leaving office early next year.

The rival parties sought a special investigation after prosecutors wrapped up an inquiry into the scandal in June without filing charges against anyone involved, saying all suspicions in the case have been resolved. That decision sparked a wave of public criticism.

The ruling party is concerned that the scandal, unless handled properly, could deal a blow to its chances in December’s presidential election. Lee’s term ends in February next year and he cannot seek re-election. 

(Yonhap News)