Ruling Party Submits Government Organization Act Amendment... Financial Supervisory Commission Bill Expected to Be Fast-Tracked

Democratic Party Submits Government Organization Act Amendment to National Assembly on September 12

The Democratic Party of Korea has introduced a party-backed amendment to the Government Organization Act. As bipartisan consensus on government-related bills, such as the establishment of the Financial Supervisory Commission, has become uncertain, the Democratic Party appears poised to designate these bills as fast-track items for expedited processing.

Yonhap News Agency

On September 12, in front of the Bill Division at the main building of the National Assembly in Yeouido, Moon Jinseok, Senior Deputy Floor Leader for Operations of the Democratic Party, told reporters, "As promised to the public, we have submitted the amendment to the Government Organization Act today." The amendment includes a restructuring plan for government ministries, including the abolition of the Prosecutors' Office. The Democratic Party plans to process the bill at the plenary session scheduled for September 25.

Follow-up legislation to the Government Organization Act is also necessary, but if opposition party members chair the standing committees, passing these bills is expected to be difficult. In particular, the Political Affairs Committee and the Strategy and Finance Committee, both chaired by members of the People Power Party, require the passage of nine and two follow-up bills, respectively.

When asked by reporters about how the party would respond if bills related to the Political Affairs or Strategy and Finance Committees face difficulties, Moon stated, "Regarding bills related to government reorganization, there should be no division between the ruling and opposition parties, so I believe the opposition should cooperate." He added, "However, if they continue to block progress, we will have no choice but to put them on the fast track."

The ruling party had attempted to negotiate with the opposition on the follow-up bills to the Government Organization Act, but talks ultimately broke down. On September 10, the floor leaders of both parties met to discuss amendments to the three major special prosecutor bills and the bill to establish the Financial Supervisory Commission as part of the government reorganization. The ruling party agreed to soften the amendments to the three special prosecutor bills, while the opposition agreed to cooperate on the bill establishing the Financial Supervisory Commission. However, due to hardliners within the Democratic Party, the amendments to the three special prosecutor bills reverted to their original state, and cooperation on the Financial Supervisory Commission bill was also withdrawn.

According to the National Assembly Act, a bill designated as a fast-track item can take up to 330 days to process: 180 days for standing committee review, 90 days for the Legislation and Judiciary Committee, and 60 days for plenary session discussion. Regarding the potential gap period, Moon stated, "The party leadership will actively visit opposition committee chairs and work to move things forward."

Meanwhile, follow-up legislation related to prosecution reform will be drafted by a government-led task force on prosecution system reform under the Office of the Prime Minister.

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