Kim Tae-nyeon: "Commercial Lease Protection Act to be processed within this month... Must expedite as much as possible"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 18th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] Kim Tae-nyeon, floor leader of the Democratic Party of Korea, urged that the Commercial Lease Protection Act be passed within this month. The Commercial Lease Protection Act, proposed by both ruling and opposition parties, aims to protect tenants facing difficulties due to the novel coronavirus disease (COVID-19) by allowing tenants to request rent reductions from landlords, among other measures.

On the morning of the 21st, at the Supreme Council meeting held at the National Assembly, Floor Leader Kim said, "We must help self-employed people who are at the crossroads of survival. The biggest concern for self-employed individuals is the rent that comes every month," adding, "Just as landlords have a dominant position, the difficult situation of tenants must also be protected."

He continued, "Party leader Lee Nak-yeon and Kim Jong-in, emergency committee chairman of the People Power Party, agreed during their meeting to cooperate on legislation regarding common pledges of both parties. I propose that the ruling and opposition parties cooperate for the swift amendment of the Commercial Lease Protection Act."

He also stated, "Our party's lawmakers Min Hyung-bae and Jeon Yong-gi, along with People Power Party lawmaker Chu Kyung-ho, have proposed the Commercial Lease Protection Act to protect commercial tenants facing eviction," and added, "Considering the desperate situation of self-employed people, legislation should be expedited to ensure it is passed within this month. I hope the relevant standing committee prioritizes reviewing this law."

Floor Leader Kim reaffirmed his position to pass the Fair Economy Three Acts during this regular session of the National Assembly. He said, "The Democratic Party will ensure the re-amendment of the Fair Economy Three Acts is passed in this regular session," and added, "Recently, Chairman Kim has repeatedly expressed support for the Fair Trade Act and the Commercial Act. We hope the opposition party will be different this time." Regarding the fourth supplementary budget bill, he said, "Minor differences in opinion cannot take precedence over the public's urgent needs," and urged, "I call for it to be passed as promised so that it can be delivered before Chuseok."