Yuseongyeop: "Internet Bank Act is a 'KT Privilege Law'... Cannot Agree to Attempts for Reconsideration"

"COVID-19 Supplementary Budget Should Cover Masks, Childcare, and Livelihood Support"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Yoo Seong-yeop, floor leader of the Democratic Integration Assembly, criticized on the 6th, “Now the leadership of the Democratic Party of Korea and the United Future Party say they will reconsider a bill that has already been rejected,” adding, “The colluding large corporations are being protected by a colluding National Assembly. They should really be ashamed.”

At the members' meeting that afternoon, Floor Leader Yoo said, “As a parliamentary negotiation group, we absolutely cannot agree to the two parties’ attempt to reconsider the Internet Banking Act.”

Floor Leader Yoo stated, “The Internet Banking Act itself may seem reasonable in terms of deregulation of banks. However, if you look closely at the bill submitted yesterday, it is nothing but a special privilege law for KT and conglomerates,” adding, “In particular, entrusting banks to large corporations that have engaged in collusion is no different from putting fish in the care of a cat. Fortunately, thanks to the conscientious votes of Minsheng Party members and some Democratic Party members, we were able to reject it.”

Regarding the supplementary budget for the novel coronavirus infection (COVID-19), Floor Leader Yoo expressed concern, saying, “The COVID supplementary budget is going in a direction different from its original intent,” and pointed out, “Out of the total 11.7 trillion won scale, direct support to victims and small business owners is at most about 4.5 trillion won, which is less than half.”

Floor Leader Yoo said, “Even though there are over 6,000 confirmed cases and a shortage of hospital beds causing deaths, they only talk about increasing corporate entertainment expenses and lowering the automobile acquisition tax. In short, it is a supplementary budget without substance,” and added, “Minsheng Party will do its best to ensure that the supplementary budget focuses on masks, childcare, and livelihood instead of large corporations and automobiles.”

This content was produced with the assistance of AI translation services.