The newly formed New Reform Party in South Korea has vowed to crack down on individuals involved in financial fraud and scams, particularly in the cryptocurrency and stock market sectors. The party Vows to impose severe penalties, including imprisonment exceeding 100 years, on those found guilty of such crimes. This move aims to strengthen the country's legal framework and deter potential offenders.

During the 13th Supreme Committee meeting, party leader Heo Eun-ah emphasized the need for harsher punishments, drawing inspiration from the American penal code. Heo Eun-ah criticized the current legal system in South Korea for its leniency in dealing with economic criminals, citing the recent case of Terraform Labs founder Do Kwon as an example. The party's stance reflects its commitment to protecting citizens from financial fraud and promoting a fairer economic environment.

The New Reform Party's proposal targets various forms of financial fraud, including cryptocurrency scams, housing contract fraud, and stock market manipulation. By imposing severe penalties, the party aims to create a deterrent effect and prevent such crimes from occurring in the future. This move is expected to have a significant impact on the financial landscape in South Korea, promoting a culture of accountability and transparency.

Heo Eun-ah's criticism of the current legal system highlights the need for reform in South Korea's approach to dealing with financial crimes. The party's proposal for harsher penalties reflects its commitment to addressing this issue and ensuring that those found guilty of financial fraud are held accountable. By adopting an American-style penal code, South Korea can learn from international best practices and strengthen its legal framework.

In conclusion, the New Reform Party's pledge to impose severe penalties on financial fraudsters marks a significant shift in South Korea's approach to dealing with economic crimes. By adopting harsher punishments and drawing inspiration from international best practices, the party aims to create a fairer and more transparent financial environment in South Korea.