Newlywed Couples 1% Ultra-Low Interest Rate Bill No.1 by Na Kyung-won, Announces 'Anti-Parliamentary Dictatorship Act' Proposal

Na Kyung-won, a member of the People Power Party, announced her intention to propose the "Anti-Parliamentary Dictatorship Act," which aims to improve the National Assembly's organization and the fast-track (rapid processing agenda) system.

Na Kyung-won, a member of the People Power Party, is attending a party meeting held at the National Assembly on the 3rd. Photo by Kim Hyun-min kimhyun81@

In an interview with YTN Radio's "News Fighting" on the 4th, Rep. Na said, "The basic principle of parliamentary democracy is to maintain checks and balances, but (the Democratic Party of Korea) insists on holding the positions of Speaker of the National Assembly, Chair of the Legislation and Judiciary Committee, and Chair of the Steering Committee all by themselves," adding, "I feel that this National Assembly is no longer a proper assembly, so I have requested the Anti-Parliamentary Dictatorship Act."

Rep. Na stated, "Whether this law passes or not, it will serve to remind the Democratic Party, which has been exhibiting unreasonable behavior, what kind of place the National Assembly has been, in order to modernize our parliament and prevent unilateral and arbitrary operations."

The Anti-Parliamentary Dictatorship Act, which Rep. Na plans to propose, is expected to include provisions that codify the customs related to the distribution of the Speaker of the National Assembly and the Chair of the Legislation and Judiciary Committee, traditionally held by the first and second largest parties, and the Chair of the Steering Committee, traditionally held by the ruling party.

On the previous day, Rep. Na also submitted her first bill, a partial amendment to the Housing Basic Act focusing on low birth rates. The bill attracted attention by incorporating the "Hungarian-style" low birth rate solution that Rep. Na has consistently advocated. The amendment allows newlyweds to borrow housing funds ranging from 200 million won to an amount specified by presidential decree at an ultra-low interest rate of up to 1% per annum. It also includes a legal basis for the government to support the interest and principal of the loans according to the number of children born to the newlyweds.

Regarding this, Rep. Na said, "When we conducted public opinion polls among newlyweds or young people planning to become newlyweds, they said that housing is the biggest burden to getting married," adding, "This bill can be seen as significantly easing the housing burden and making it easier to start a family."