'Special Semiconductor Act' Passes Judiciary Committee... Venture Companies' 'Introduction of Multiple Voting Rights' Excluded from Agenda

[Asia Economy Reporter Oh Ju-yeon] A bill comprehensively fostering and supporting advanced industries, including semiconductors, passed the National Assembly's Legislation and Judiciary Committee on the 10th.

The National Assembly's Legislation and Judiciary Committee approved the Special Act on Strengthening and Protecting the Competitiveness of National Advanced Strategic Industries at its plenary session that afternoon.

Known as the 'Semiconductor Special Act,' this bill establishes the National Core Strategic Industries Committee under the Prime Minister's Office and includes provisions to activate investment in advanced industry sectors.

On the other hand, the 'Special Act on Fostering Venture Companies Amendment Bill,' which included measures to introduce multiple voting rights, was excluded from the agenda.

The amendment contained multiple voting rights that grant founders of unlisted venture companies voting rights exceeding their shareholdings to protect management rights. The industry has strongly demanded the bill's passage, arguing that strengthening founders' voting rights is necessary to defend management rights and increase incentives for long-term investment. However, some have opposed it, arguing that it could be abused as a tool for chaebol succession.

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