Kim Tae-nyeon, the day after the business community meeting: "Unconditional opposition to the Fair Economy 3 Acts is difficult"

"Reform Bill to Align with Global Standards"
Advanced Countries Have Even Stronger Systems
Emphasis on Processing Within the Regular National Assembly

[Asia Economy Reporter Jeon Jin-young] On the 15th, Kim Tae-nyeon, the floor leader of the Democratic Party of Korea, addressed the business community's opposition to the 'Fair Economy 3 Acts,' stating, "We will actively reflect reasonable opinions. However, unconditional opposition is unacceptable." The Democratic Party's Fair Economy Task Force (TF) held a meeting the previous day with economic organizations such as the Korea Chamber of Commerce and Industry and the Korea Employers Federation to listen to their opinions.

[Image source=Yonhap News]

On the same day, Kim held a National Assembly audit countermeasure meeting in the morning and said, "Some economic organizations and media outlets are repeatedly making claims such as 'No corporate regulation is allowed' and 'Fair economy laws do not exist anywhere in the world,'" adding, "These claims are inconsistent with the purpose of the law and are not based on facts."

He emphasized, "The Fair Economy 3 Acts are reform bills aimed at aligning with global standards," and added, "Even the system of separately electing audit committee members, which the business community opposes the most, is more robustly implemented in major advanced countries such as the United States and Germany."

He also reaffirmed his position to pass the Fair Economy 3 Acts within the regular session of the National Assembly. Kim stated, "The Democratic Party will proceed with legislation as planned to transition to a competitive and fair market economy system," and raised his voice, saying, "Turning crises into opportunities should naturally apply to our economy as well."

Addressing the opposition party, he said, "The purpose of the Fair Economy 3 Acts is to create a healthy economic ecosystem and enhance the global competitiveness of our companies," and urged cooperation, saying, "I understand that Kim Jong-in, the emergency committee chairman of the People Power Party, shares this view with the Democratic Party in this regard."

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