On June 17, South Korea's newly formed right-wing political party, the New Reform Party, announced plans to impose heavy fines on those involved in financial fraud and scams, particularly those who engage in cryptocurrency fraud, housing contract fraud, and stock market manipulation. At the 13th Supreme Council meeting in parliament on June 17, Heo Eun-ah, leader of the New Reform Party, said his party was committed to adopting an American-style penal code for such economic criminals so that they could be punished under the law with "more than 100 years in prison". Heo Eun-ah criticized the South Korean legal system for being too lenient in punishing such criminals, citing the recent case handling of Do Kwon, founder of Terraform Labs.