[Reporter’s Notebook] Fast-Track for the Kim Gun-hee Special Prosecutor Act, but Not for the Semiconductor Special Act

Ignoring Public Hardships and Macroeconomic Crisis
Ruling and Opposition Parties Heading Toward Extreme Confrontation

U.S. President Joe Biden signed the "Semiconductor Industry Promotion Act," which focuses on intensive investment in the semiconductor industry and research and development, at the White House South Lawn on the 9th of last month (local time).

[Asia Economy Reporter Koo Chae-eun] "'Isn't the term 'special' attached to the 'Special Act' because its urgency is recognized? This isn't even a couple getting divorced, so why can't the bill be submitted due to a deliberation period...?"

This comment was left by a reader regarding the recent article we reported titled 'Submission Even Fails, Semiconductor Special Act Tied Up.' It's a valid point. The law grants authority to establish specialized complexes. It reflects the on-site risks of projects worth trillions of won being jeopardized at the last minute due to issues like industrial water or transmission towers. However, the 'K-Chips Act,' which contains such provisions, still cannot be brought to the standing committee due to a lack of deliberation time.

The Democratic Party of Korea's logic stems from the principle of 'prioritizing deliberation on non-controversial bills submitted before July 15.' Since this bill was submitted last month, after that date, it is not eligible for submission. There was also talk about introducing a fast-track system for urgent agenda processing, but it was not accepted.

However, the Kim Gun-hee Special Prosecutor Act, which was submitted even later than this, is an exception. The Democratic Party intends to push for a fast-track on the special prosecutor law along with the presidential complaint as a counterattack against the party leader's prosecution summons. This means bills aimed at reviving livelihoods and businesses are being neglected, while bills for political conflict are discussed without deliberation.

Political maneuvering frequently buries policies in Yeouido. Urgent bills are pushed aside. They disappear from the stage of issues. This happens when there is political conflict, division, discord, and extreme confrontation between the ruling and opposition parties. Bipartisan cooperation on timely bills disappears, and the National Assembly repeatedly escalates confrontations.

Our economy is suffering from the so-called three highs: high inflation, high interest rates, and high exchange rates. Yet the National Assembly remains complacent. Special bills to relieve the comprehensive real estate tax bomb, as well as corporate tax rate cuts and delivery price linkage systems, are all being sidelined.

Above all, the role of the major opposition party, the Democratic Party, is crucial. A common criticism they hear is that they are 'ideologically bound and incompetent on economic matters.' This is followed by claims that they fail to expand toward the center. As the largest party holding 169 seats, they must show magnanimity to prevent the regular session from being stained solely by political conflict.

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