Kim Tae-nyeon: "We will complete the 'Fair Economy 3 Laws' in the 21st National Assembly... Companies must also make voluntary efforts"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the policy coordination meeting held at the National Assembly on the 11th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] Kim Tae-nyeon, floor leader of the Democratic Party of Korea, emphasized that the 'Fair Economy 3 Acts' will definitely be passed in the 21st National Assembly.

At the policy coordination meeting held at the National Assembly on the morning of the 11th, Floor Leader Kim said, "Today, the Ministry of Justice and the Fair Trade Commission are announcing legislation such as amendments to the Commercial Act, the Fair Trade Act, and the Financial Group Supervision Act," adding, "The Democratic Party's general election pledge and the Moon Jae-in administration's national agenda, the fair economy bills, will be completed in the 21st National Assembly."

He said, "Recently, there was a suspicion of unfair internal transactions in the form of toll fees at a large corporation," and added, "Behaviors caused by unfair internal transactions and faulty governance weaken national competitiveness. We will improve governance to realize economic justice."

He continued, "In the 21st National Assembly, we will spread the two wings of fair economy and regulatory innovation," and said, "We hope companies will voluntarily take the lead in economic democratization. We ask companies to make efforts to increase transparency."

Regarding the ongoing negotiations with the United Future Party on the organization of the National Assembly, Floor Leader Kim said, "The deadline for organizing the National Assembly set by law has been exceeded by three days, but it seems the United Future Party does not see the urgent situation of the people, which is frustrating," and added, "We will not respond to the opposition party's strategic bargaining and will promptly complete the organization of the National Assembly."

He emphasized, "The 21st National Assembly must be different from the past," and said, "With the determination to change wrong practices and culture and establish a working National Assembly, we will complete the organization of the National Assembly according to the procedures stipulated by the National Assembly Act. We will accomplish the era-changing tasks entrusted by the people."

Cho Jung-sik, chairman of the Democratic Party's Policy Committee, also said, "As the overall industrial situation, centered on manufacturing, worsens, employment shocks are gradually intensifying," and emphasized, "The Democratic Party will promptly complete the organization of standing committees and immediately begin reviewing the 3rd supplementary budget bill. The supplementary budget must be processed within June."

Hong Jung-min, Democratic Party floor spokesperson, said at a briefing immediately after the policy coordination meeting, "I understand that the final agreement regarding the standing committee chairpersons is being made today." He added, "Tomorrow afternoon's plenary session will proceed as previously announced, regardless of today's negotiations."

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