GNP Sues Samsung for `Misleading' Report 2000 02/03(목) 17:14 By Kim Yong-bom Staff Reporter A prediction of a bad economic impact of the opposition's victory in the April elections emerged a controversial issue, as the opposition Grand National Party yesterday claimed that such argument is a political bid to ``smear'' the GNP. The GNP leadership already decided to file a complaint against Samsung Securities over the latter's report which expected negative effects on the economy if the opposition is victorious in the April polls. The GNP also raised suspicion that the government may be behind the report which expects an exodus of foreign investors from Korea in the case of an opposition victory. ``The analysis of Samsung is suspected to be aimed at smearing the opposition ahead of the election,'' charged Rep. Ha Soon-bong, secretary-general of the GNP, at the party leadership meeting yesterday. In an analysis of future stock market conditions last month, Samsung Securities said, ``The increase of foreign investment is indebted to the reform drive of the current administration. The worst scenario foreign investors worry about is that the economic restructuring programs may suffer setbacks and fall into disarray with a defeat of the ruling camp in the elections.'' In the face of the analysis, Lee Han-koo, chief GNP policy maker, countered that an opposition victory in the polls has nothing to do with stock market conditions. According to past data, the stock index rose after the ruling camp's defeat in the polls contrary to Samsung's analysis,'' Lee claimed. Lee also insisted it is the government's policy, not an opposition victory, that would make the stock market unstable. ``If the government continues its pump-priming projects for election purposes, an austerity program to curb price hikes is inevitable after the polls. Therefore, it is budget constraints resulting from pump-priming projects that would affect the stock market in a negative way.'' The GNP decided to file a complaint to the Seoul District Prosecutor's Office against officials of the securities firm on charges of political smearing. However, the ruling Millennium Democratic Party denounced the GNP as an ``oversensitive reaction,'' asking the GNP to stop harassing private research activities. The MDP also defended Samsung's analysis, saying the GNP deserves the evaluation, given its economic policies (resisting the economic reform drive). ``Before making a hysterical reaction, the GNP should give second thought to its economic positions,'' MDP spokesman Rep. Chung Dong-young said.