'Conflict of Interest Prevention Act Including National Assembly Members Nears Passage'

Korea Commission on Rights and Interests: "Same Application to All Public Officials Including Members of the National Assembly"
Challenges Include Non-Disclosure of Private Interest Data

Jeon Hyun-hee, Chairperson of the Anti-Corruption and Civil Rights Commission. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] The Public Officials Conflict of Interest Prevention Act, which had been drifting for nine years since it was first submitted in 2013, has passed the National Assembly's Political Affairs Committee's bill review subcommittee. The Anti-Corruption and Civil Rights Commission, the main government agency in charge, emphasized that the law also applies to members of the National Assembly.

The Anti-Corruption and Civil Rights Commission stated that members of the National Assembly are subject to the law in the same way as other public officials. This comes amid controversy over whether members of the National Assembly are subject to the National Assembly Act rather than this law, which passed the Political Affairs Committee's bill subcommittee.

The Commission said, "The ten behavioral standards under the Conflict of Interest Prevention Act, such as restrictions on family hiring and private contract conclusion, apply equally to all public officials, including members of the National Assembly."

The ten behavioral standards are ▲restriction on family hiring ▲restriction on private contract conclusion ▲reporting ownership or purchase of real estate related to duties in affiliated public institutions ▲prohibition on using non-public information obtained through duties ▲reporting private conflicts of interest ▲reporting transactions with persons related to duties ▲restriction on external activities related to duties ▲submission of private sector work activity details ▲prohibition on private use or profit from public property ▲obligation to report private contact by retirees. Violations are punishable by imprisonment of up to seven years or a fine of up to 70 million won. Third parties who receive and use information, even if not subject to conflict of interest regulations, are also punishable.

On the other hand, the National Assembly Act regulates conflicts of interest related to members' legislative activities such as standing committee activities and bill reviews. It mainly requires submission of lists and work details of corporations where the member or their family served as executives within a certain period after election, and corporations where the member worked within three years before election.

However, the private conflict of interest materials that members must submit will not be disclosed. This raises concerns that the conflict of interest judgments by the National Assembly Ethics Review Advisory Committee and their actual application will be difficult to verify, resulting in a "blind review."

The law is expected to be finally approved at the plenary session of the National Assembly on the 29th after going through the Political Affairs Committee's full meeting and the Legislation and Judiciary Committee's systematic and comprehensive review. It will be enforced one year after promulgation.

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