Jae-yeon Kim, Progressive Party Presidential Candidate, Pledges "Three Laws to Abolish Parliamentary Privileges"

Proposal for Lawmaker Allowance 'Below 3 Times Minimum Wage', 'Three-Term Limit', and 'Real Estate Blind Trust System' Presented

[Asia Economy Reporter Oh Ju-yeon] Progressive Party presidential candidate Kim Jae-yeon pledged on the 22nd to abolish the privileges of National Assembly members, promising to introduce a rule that limits their allowances to "no more than three times the minimum wage," impose a three-term limit, and implement a real estate blind trust system.

At a press conference held in front of the National Assembly in the afternoon, Candidate Kim stated, "Trust in state power is at rock bottom, and trust in the National Assembly is always the lowest," adding, "Unless we change politics filled with double standards and hypocrisy, we cannot change the country."

Regarding the introduction of the rule limiting National Assembly members' allowances to no more than three times the minimum wage, Kim explained, "In 2021, the annual salary of a National Assembly member exceeded 150 million won, and above all, they receive 'overlapping payments' under various names and even enjoy 'special tax exemptions.'" He added, "It is unfair and unequal that only National Assembly members become wealthy while the people grow poorer."

He continued, "We must establish the basic political principle that 'the lives of National Assembly members improve only when the lives of the people improve,'" and said, "By specifying that National Assembly members' allowances be 'no more than three times the minimum wage,' we will abolish their privileges and achieve political reform."

Regarding the introduction of a three-term limit, he said, "Local government heads have a three-term limit, but National Assembly members do not," explaining, "As seen in the '50 billion won retirement pay' controversy in the Hwacheon Daeyu Gate, National Assembly members are always involved in chains of corruption related to various interests and development projects. The practice of National Assembly members taking regional construction budgets under the pretext of 'constituency management' through 'slush funds' must now end."

On the real estate blind trust system for National Assembly members, he stated, "Among the 21st National Assembly members, 3 out of 10 are multi-homeowners, and 76 own farmland, making them co-conspirators in the skyrocketing real estate prices," adding, "We will establish the principle of one household, one house starting with National Assembly members and prevent unjust wealth accumulation through real estate speculation."

In addition, Candidate Kim pledged ▲ three major promises to strengthen direct democracy (realizing reforms that grant the people the right to initiate legislation, recall elected officials, and submit national referendums) ▲ four major promises to expand youth political participation (lowering the eligibility age to 16, halving the deposit for candidacy, introducing youth recommendation subsidies, and pushing to remove age restrictions for party membership) ▲ two major promises for election reform (preventing satellite parties and implementing a fully proportional representation system, and banning candidate nominations by parties responsible for causes such as sexual violence and corruption in by-elections).

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