Yoon Likely to Approve as Early as This Afternoon
South Korea "Boosting Morale of Hardworking Soldiers"
'Ruling and Opposition Agreement' on Passing Livelihood Bills
The proposal to designate this year's 76th anniversary of the Armed Forces Day (October 1) as a temporary public holiday was approved at the Cabinet meeting. Major livelihood bills, including the Special Act on Jeonse Fraud, on which the ruling and opposition parties reached a consensus, were also passed.
On the morning of the 3rd, the government held a Cabinet meeting chaired by Prime Minister Han Duck-soo to review and approve the 'designation of Armed Forces Day as a temporary public holiday.' A senior government official stated, "It is expected that the President will promptly give his approval."
Prime Minister Han Duck-soo is attending and speaking at the Cabinet meeting held at the Government Seoul Office in Jongno, Seoul, on the 3rd. At this meeting, the designation of a temporary holiday for Armed Forces Day will be decided. Photo by Jo Yong-jun jun21@
Prime Minister Han said, "This is a very serious time for domestic and international security due to North Korea's continuous provocations," adding, "Even at this moment, I hope that our soldiers, who are sweating on the front lines of national defense for the country and its people, will have their morale boosted and their sense of duty strengthened through the support of the public."
The People Power Party requested the government to designate this year's Armed Forces Day as a temporary public holiday during a high-level party-government meeting on the 25th of last month. After reviewing various opinions, President Yoon was reported to have determined that designating a temporary public holiday was necessary as a measure to encourage the military and stimulate consumption. President Yoon also approved the designation of October 2 last year as a temporary public holiday on the same day immediately after the Cabinet meeting passed the proposal in the morning.
Major bills such as the Special Act on Jeonse Fraud (Special Act on Support for Victims of Jeonse Fraud and Housing Stability), the Taxi Development Act (Act on the Development of Taxi Transportation Business), and the Depositor Protection Act were also approved at the Cabinet meeting.
The Special Act on Jeonse Fraud includes provisions for the Korea Land and Housing Corporation (LH) to support victims of jeonse fraud through purchases via auction. Although it was passed under the leadership of the Democratic Party during the 21st National Assembly, it was discarded after President Yoon exercised his veto. This time, considering that the ruling and opposition parties reached an agreement through discussions and that it is an issue directly related to livelihood, the government appears to have decided to accept it.
The Taxi Act postpones the nationwide expansion of the system requiring corporate taxi drivers to work at least 40 hours per week and receive at least the minimum wage by two years.
The Depositor Protection Act extends the sunset clause for the limit on the deposit insurance premium rate until December 31, 2027.
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