Pursuing Development Profit Recovery System as Priority Legislative Task... To Be Processed in Regular National Assembly with Opposition Party

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jin-young] The Democratic Party of Korea has agreed to prioritize legislation related to the development profit recovery system and to work with opposition parties to pass it during this regular session of the National Assembly.

Shin Hyun-young, the party's floor spokesperson, said in a briefing after the policy members' meeting held at the National Assembly on the afternoon of the 4th, "There was a consensus to strive to create a legal system that can return development profits back to the people together with the opposition during this regular session."

Currently, bills to amend the Development Profit Recovery Act, Urban Development Act, and Housing Act have been proposed in the National Assembly. The Development Profit Recovery Act was proposed by lawmakers Jin Seong-jun, Park Sang-hyuk, and Lee Nak-yeon; the Housing Act by lawmaker Lee Heon-seung; and the Urban Development Act by lawmakers including Hong Jeong-min.

Spokesperson Shin said, "Many people agreed on the direction of the bills. Since public interest in real estate issues is high, there was a consensus that the party should sincerely push forward," adding, "Detailed discussions will be conducted in the standing committee focusing on the existing proposed bills."

Regarding the nationwide disaster relief fund payment advocated by presidential candidate Lee Jae-myung, she said, "It was not intensively discussed. It was not the main issue of today's members' meeting," but added, "There was a consensus that it needs to be considered more deeply going forward."

On Prime Minister Kim Boo-kyum's opposition to the disaster relief fund payment plan, she emphasized, "I do not understand it as an expression of opposition," and said, "I think it is a concern about securing the budget."

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