<기사>Legislation Committee Reserves Social Economy Act... K-Chips Act Scheduled for Approval Tomorrow

Adjournment Without Resolution Due to Ruling Party and Opposition Disagreement

The National Assembly's Planning and Finance Committee discussed the 'Basic Social Economy Act,' which mandates public institutions to purchase goods from social enterprises, on the 21st but ultimately failed to reach a conclusion.

The Economic and Fiscal Subcommittee reviewed the Social Economy Act on the same day, but due to disagreements between the ruling and opposition parties, the session was repeatedly adjourned and ended without passing any bills.

On the 21st, Shin Dong-geun, the chairman, is striking the gavel at the Economic and Fiscal Subcommittee of the National Assembly's Planning and Finance Committee.
[Image source=Yonhap News]

The Social Economy Act stipulates a priority purchasing obligation for goods and services produced by social economy organizations such as cooperatives and social enterprises within public institutions. The People Power Party argued that individual laws supporting various types of social enterprises already exist, making this bill unnecessary, while the Democratic Party countered that the ruling party is only maintaining an opposing stance.

The amendment to the National Finance Act, which would introduce fiscal rules and was attempted to be approved by the People Power Party at the subcommittee on the same day, was not even discussed. Ahead of the plenary session on the 22nd, where the K-Chips Act and others will be processed, further scheduling consultations with the opposition party are planned.