People Power Party "Will Definitely Request Veto on Opposition's Forced Passage of Commercial Act Amendment and Myeong Taegyun Special Prosecutor Act"

Commercial Act and Others Passed in the Judiciary Committee's Subcommittee the Previous Day
People Power Party: "Observing the Myung Taegyun-Kim Keonhee Call Calmly"

The People Power Party announced on the 25th that it will request Choi Sang-mok, Acting Prime Minister and Minister of Economy and Finance, to exercise the right to request reconsideration (veto) regarding the Commercial Act and the Special Prosecutor Act on Myung Tae-gyun, which the opposition party forcibly passed. Both laws had passed the first subcommittee of the National Assembly's Legislation and Judiciary Committee the day before.

Kwon Seong-dong, floor leader of the People Power Party, is speaking at the floor strategy meeting held at the National Assembly on the 25th. 2025.2.25 Photo by Kim Hyun-min

Park Soo-min, the floor spokesperson for the People Power Party, said after the party's floor strategy meeting held at the National Assembly on the same day, "The amendment to the Commercial Act is more likely to cause confusion rather than help corporate management, and it is likely to cause legal costs to skyrocket. It requires great caution, but it was regrettably passed unilaterally too hastily. We will definitely request the right to reconsider."

She added, "As you know, the Special Prosecutor Act on Myung Tae-gyun is an all-purpose investigative law that investigates the entire political circle and can have a considerably negative impact, so we plan to request the right to reconsider."

The opposition parties, including the Democratic Party of Korea, processed the amendment to the Commercial Act, which expands the duty of loyalty when directors perform their duties from 'the company' to 'the company and shareholders,' and the Special Prosecutor Act on Myung Tae-gyun, which targets investigations into allegations that political broker Myung Tae-gyun conducted illegal and false opinion polls and engaged in nomination deals during the 2022 presidential and local elections and last year's general election, at the Legislation and Judiciary Committee's bill subcommittee the day before.

Regarding the release of the recorded conversations between the currently incarcerated Myung Tae-gyun and First Lady Kim Keon-hee, they said they are "calmly observing the situation." According to previous media reports, on May 9, 2022, the day before President Yoon Seok-yeol's inauguration, First Lady Kim called Myung and said, "The president-elect just called," and "I told him not to use the president-elect's name and just push it through." It is also known that Myung spoke with President Yoon before this call.

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