[21st General Election] First "Super Party" in 50 Years Since the Republican Party... Era of the "Overwhelming Democratic Party"

Lee Nakyeon, Standing Election Committee Chair of the Democratic Party of Korea, Lee Haechan, Party Leader, Lee Inyoung, Floor Leader, and Song Younggil, Co-Chair of the Election Committee, attended the Future Preparation Election Committee meeting held at the National Assembly on the 16th and are seen talking during the meeting. Photo by Yoon Dongju doso7@

[Asia Economy, reporters Park Chuleung and Son Sunhee] The Democratic Party of Korea has become the ruling party with the strongest parliamentary power in over 50 years. This marks the first emergence of a "super party" since the Democratic Republican Party during the Park Chunghee regime in the 1960s, and it is the first time since democratization that such an overwhelming political landscape has appeared. The significance of securing 180 seats, which is over 60% of the total seats, suggests that the Democratic Party will aggressively push forward with reforms. The party is targeting not only the prosecution but also the judiciary, the police, and conglomerates for reform. Amid the COVID-19 pandemic, the Blue House, which has seen its support rise, is expected to further strengthen the stability of state governance. Policies focused on income-led growth, job creation, and the stabilization of the real estate market are also likely to gain momentum.

According to the National Election Commission on April 16, the Democratic Party won 163 constituency seats in the 21st general election, and its satellite party, the Platform Party, is expected to secure about 17 seats by winning approximately 33% of the proportional representation votes. This means the Democratic Party will hold three-fifths of the National Assembly. This is the largest share of seats since the 7th general election in 1967, when the Democratic Republican Party won about 74% of the seats (129 out of 175). In 1990, the ruling Democratic Justice Party once secured 73% of the seats through a "three-party merger" with the Reunification Democratic Party and the New Democratic Republican Party, but that was the result of a political negotiation, not an election, so it is different. Compared to 16 years ago, when the Uri Party secured a majority with 152 seats due to the backlash from the impeachment of former President Roh Moo-hyun, the Democratic Party has become an even stronger party. For the Democratic Party, this is a historic high point.

If the Open Democratic Party and the Justice Party, both composed mainly of former Democratic Party members, are included, the total approaches 190 seats. This is nearly two-thirds of the assembly, the 200 seats required for constitutional amendments. Even with just three-fifths, the Democratic Party can independently process bills through the fast-track (expedited legislation) procedure. The party now holds clear dominance in the political landscape. However, even if a bill is put on the fast-track, it still takes nearly a year after submission, so the challenge of cooperation remains.

Immediately, the Democratic Party is expected to accelerate prosecutorial reform by bringing forward the launch of the Corruption Investigation Office for High-ranking Officials (CIO), which is scheduled for July. The CIO establishment task force plans to hold its second advisory committee meeting at the end of this month to begin discussions on selecting the CIO chief. Starting next month, the Ministry of Justice will discuss amendments to follow-up legislation related to the CIO and the adjustment of investigative powers between the prosecution and the police, together with relevant agencies. Given the Democratic Party's overwhelming victory, the structure and authority of the CIO may be further strengthened.

Regarding the judiciary, the party plans to abolish the Court Administration Office and transition to a Court Secretariat, and to strengthen laws preventing preferential treatment for former judges. For police reform, the party has pledged to implement a local police system and introduce a control system for the intelligence police.

In terms of chaebol policy, the Democratic Party has declared, "We will push for amendments to the Commercial Act to prevent abuses of power by controlling families and establish a transparent and sound management culture." The amendments include a multiple derivative suit system, electronic voting, cumulative voting, and stricter punishment for embezzlement and breach of trust by major shareholders and their families.

For real estate policy, the party plans to discuss a bill to strengthen the comprehensive real estate tax on owners of multiple homes at the extraordinary session of the National Assembly to be held this month. However, during the election, the party leadership stated that supplementary measures for single-home owners would be considered, which is drawing attention. Measures such as the introduction of a tenant's right to renew for a minimum four-year lease and the implementation of a cap on rent increases are expected to gain momentum. The "public concept of land ownership" mentioned by the party leadership may also come to the fore.

The Blue House, which marks the third anniversary of President Moon Jae-in's inauguration next month, is buoyed by the unexpected results. For now, it is focused on overcoming the economic crisis caused by COVID-19. President Moon has already declared the "post-corona" era and has repeatedly emphasized extraordinary determination and unprecedented policy decisions. To minimize the upcoming economic impact, the government is expected to focus on policies related to employment and job creation to support people's livelihoods. With an overwhelming ruling party and a weak opposition, livelihood-related legislation is also expected to proceed smoothly.

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