"'Exclusive Prosecution Rights Abolition' Passed by Political Affairs Committee Agenda Coordination Committee... Democratic Party to Amend in Plenary Session"

Members of the National Assembly's Political Affairs Committee from the People Power Party, including Secretary Sung Il-jong, held a press conference on the 7th in front of the Political Affairs Committee meeting room at the National Assembly in Yeouido, Seoul, criticizing the ruling party's attempt to pass bills without bipartisan agreement.
[Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-joo] The amendment to the Fair Trade Act, which abolishes the exclusive right to prosecute held by the Korea Fair Trade Commission (KFTC), passed the National Assembly's Political Affairs Committee's agenda adjustment subcommittee on the 8th. However, the Democratic Party of Korea has announced plans to submit a revision bill to maintain the exclusive right to prosecute, signaling opposition from the opposition parties.

The amendment to the Fair Trade Act focuses on abolishing the KFTC's exclusive right to prosecute and expanding the scope of regulations on 'preferential treatment of related parties.' This bill is one of the so-called 'Fair Economy 3 Laws' promoted by the ruling party.

The Political Affairs Committee's agenda adjustment subcommittee approved the amendment as originally proposed by the government, abolishing the exclusive right to prosecute. However, considering concerns from the business community and the expansion of prosecutorial powers, the Democratic Party plans to submit a revision bill to maintain the exclusive right to prosecute. Kim Byung-wook, the Democratic Party's floor leader, stated, "We will submit a revision bill to maintain the exclusive right to prosecute as it currently stands and pass it at the full committee meeting."

In response, Seong Il-jong, the floor leader of the People Power Party, opposed, saying, "They say they will pass it here and then maintain it as is at the full committee meeting," adding, "They are deceiving the Justice Party."

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