National Assembly Halted by Rejection of Inbaeng Act, to Reconvene Tomorrow

On the 5th, the 'Special Act on Internet-Only Banks Amendment Bill' was rejected in the National Assembly plenary session with 184 members present, 75 in favor, 82 against, and 27 abstentions. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Lee Ji-eun] On the 5th, the National Assembly agreed not to resume the plenary session, which was adjourned due to the rejection of the amendment bill to the Special Act on the Establishment and Operation of Internet-Only Banks (Internet Bank Act), and decided to reconvene on the 6th.

Lee In-young, floor leader of the Democratic Party of Korea, sent a text message to lawmakers in the afternoon, stating, "Today's plenary session will not be resumed, and the plenary session will be convened at 4 p.m. tomorrow." After the party meeting, he told reporters, "The ruling and opposition parties will have a cooling-off period and conduct normalization negotiations between the chief deputy floor leaders before resuming the session."

Shim Jae-cheol, floor leader of the United Future Party, also told reporters after the party meeting, "We decided to have a cooling-off period in this situation today," adding, "Today's meeting will not be held any further."

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