President Yoon Suk Yeol vetoed a set of bills on special counsel investigations into the so-called "Five Billion Won Club" in the Daejang-dong development scandal and First Lady Kim Keon-hee's alleged stock manipulation.

This comes after the Cabinet approved a motion on Friday requesting the National Assembly to reconsider the contentious bills that were passed by the opposition-controlled parliament.

At a press briefing, Presidential Chief of Staff Lee Kwan-sup said Yoon approved the request for reconsideration of two "unjust laws" pushed by the opposition for political gain ahead of April's general elections as part of his constitutional duty.

Noting a disregard for the constitutional practice of negotiation on a bill by rival political parties prior to its passage, the chief aide said there is concern that excessive probes could violate the rights of those standing trial on related allegations.

Lee said the investigations partial to the opposition during campaign season could infringe upon the public's right to choose, divert tens of billions of won in taxpayers' money from support for public livelihoods, and disrupt judicial operations.

This is Yoon's fourth veto since taking office in May 2022.