Democratic Justice Party
In February 1988, having stepped down from the presidency at the conclusion of his term, Chun was named Chairman of the National Statesman Committee and so wielded considerable influence in South Korean politics. In that year, the Democratic Justice Party lost majority in National Assembly elections to opposition parties, paving the way for the so-called "Fifth Republic Hearings." The National Assembly explored the events of the Gwangju Democratization Movement and where responsibility should lay for the resulting massacre. On 11 November 1988, Chun apologized to the nation in a public address, pledging to give his money and belongings back to the country. Chun resigned from both the National Statesman Committee and the Democratic Justice Party.