The floor leader of the main opposition People Power Party(PPP) ramped up pressure on the ruling Democratic Party(DP) to agree to a special counsel investigation into the alleged involvement of ruling camp figures in the country's hedge fund scandals.

On a local radio program on Wednesday, PPP floor leader Joo Ho-young called the allegations part of an influence-peddling scandal.

Joo alleged that ruling camp figures like former senior presidential political secretary Kang Ki-jung and DP Chair Lee Nak-yon met and were apparently lobbied by the operators of the now-defunct asset management firms, whose soured investments cost investors more than a trillion won in losses.

The floor leader added that the controversy will not die down through an investigation led by Justice Minister Choo Mi-ae and Seoul Central District Prosecutors' Office chief Lee Sung-yoon, who have repeatedly protected the administration.

Joo stressed that the public will only trust an investigation conducted by either a special team formed by Prosecutor General Yoon Seok-youl or a special counsel.