President Moon Jae-in said Tuesday that the envisioned launch of a powerful corruption investigation agency is very meaningful as it can serve as a systemic tool to keep the prosecution in check.

"The Corruption Investigation Office for High-ranking Officials (CIO) is highly significant, as it can serve as a tool to democratically regulate the prosecution," Moon said during a weekly Cabinet meeting held at the government complex in Seoul. He presided over the meeting from Cheong Wa Dae through a video link.

Last week, parliament approved a bill on facilitating the launch of the CIO, a major policy initiative of Moon. The ruling party spearheaded the passage in spite of strong protests by the main opposition party.

The non-prosecution body will be tasked with investigating corruption among senior government officials. Prosecutors are among civil servants subject to the CIO's probe over alleged corruption.

"The CIO can serve as a systemic tool to sternly hold the prosecution accountable for its internal corruption and misdeeds," the president stated.

Moon also said that the prosecution has become a subject of public criticism, arguing that the power institution has become a "sacred ground" that is not held responsible for wrongdoings while wielding enormous state power.

The president also rebuked criticism from the opposition that the CIO is a tool that would allow a dictatorship.

"As we're adding another sword against potential power abuse by the administration, it's hard to comprehend how this can be linked to the idea of a dictatorship," Moon argued.

Moon also stressed the importance of working together across the political spectrum to allow the CIO to perform its duty under strict political neutrality.

A bill to establish the CIO was approved in December last year and the legislation took effect in July. But its launch has been delayed amid political disputes over the choice of its first leader.

Moon has expressed his expectation that the CIO will be formally set up at the start of 2021. (Yonhap)