Kim Jong-in: "Not in a position to reject the Fair Trade 3 Acts... No contradiction with the party platform"

Kim Jong-in, Chairman of the Emergency Response Committee of the People Power Party, is attending the Emergency Response Committee meeting held at the National Assembly on the 17th and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy reporters Lee Ji-eun and Lim Chun-han] Regarding the Fair Trade 3 Acts (Commercial Act, Fair Trade Act, Financial Group Supervision Act) being promoted by the Democratic Party of Korea, Floor Leader Kim Tae-nyeon proposed, "Let's handle it during the regular session of the National Assembly," to which Kim Jong-in, Emergency Committee Chairman of the People Power Party, responded positively, saying, "We do not have a position to reject the three laws themselves."

Chairman Kim met with reporters immediately after the People Power Party Emergency Committee meeting held at the National Assembly on the 17th and said, "Our party also included economic democratization for the first time when revising the party platform, so from that perspective, (the Fair Trade 3 Acts) are not contradictory."

Earlier, Floor Leader Kim welcomed Chairman Kim’s statement in a media interview expressing the will for economic democratization and saying, "It is necessary to amend the Commercial Act and Fair Trade Act," and proposed, "Let's handle it during the regular session." Chairman Kim essentially accepted Floor Leader Kim’s intention in principle.

Chairman Kim said, "Generally, public opinion says, 'Isn't this an anti-market law?' but that expression itself is wrong," adding, "Since these laws were created to supplement market order, there may be some changes in content during the review process in the National Assembly going forward, but we do not have a position to reject the three laws themselves."

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