Choo Kyung-ho "Not Legislative Dominance but Livelihood Cooperation... Need to Establish Ruling-Opposition-Government Council" (Comprehensive)

Proposal to Introduce Fast-Track for Livelihood Legislation
Tax Reform Including Inheritance Tax Relief and Abolition of Financial Investment Tax

On the 5th, Choo Kyung-ho, floor leader of the People Power Party, urged the Democratic Party of Korea to stop unilateral legislative actions such as impeachment motions and special prosecutor laws, and to engage in bipartisan cooperation for the passage of livelihood-related legislation. He specifically called for the introduction of a bipartisan and political consultation body and a fast-track system for livelihood legislation to enable swift discussion and enactment of laws addressing livelihood and economic issues.

In his speech as the representative of the negotiating groups at the National Assembly that day, Floor Leader Choo presented the so-called 4·4·4 policy, highlighting four key livelihood stabilization policies (protection of vulnerable groups, support for small business owners and self-employed, youth support, and tax burden relief for the middle class), four future-oriented tasks (measures against low birth rates, fostering national advanced strategic industries, responding to climate and regional extinction crises), and four reform tasks (pension, medical, labor, and fiscal reforms).

In his 29-page speech titled "Protecting Livelihoods and Growing the Future," Floor Leader Choo mentioned "reform" 33 times, "livelihood" 24 times, "future" 13 times, and "youth" 12 times respectively.

Choo Kyung-ho Calls for Cooperation to Pass Livelihood Bills... Also Mentions Tax Burden Reduction Measures

Chu Kyung-ho, floor leader of the People Power Party, is delivering a negotiation group representative speech at the plenary session held at the National Assembly on the 5th. Photo by Hyunmin Kim kimhyun81@

On the same day, Floor Leader Choo expressed his welcome for the Democratic Party's Semiconductor Special Act and proposed the passage of the National Power Grid Special Act, the establishment of a special committee on climate crisis response, and a special committee on regional extinction crisis response. The intention was for the National Assembly to unite in addressing livelihood and economic issues and preparing for the future rather than engaging in political strife.

As part of livelihood policies, he announced plans to reform various tax systems such as comprehensive real estate tax, inheritance tax, and financial investment tax to reduce the tax burden on the middle class. Regarding the comprehensive real estate tax, Floor Leader Choo stated, "We will reform it in a direction that lowers the burden further," mentioning adjusting the one-household-one-home deduction from the current 1.2 billion KRW to 1.5 billion KRW and abolishing the heavy taxation system for multiple homeowners. For inheritance tax reform, he listed measures such as lowering the top tax rate, expanding deductions, abolishing the surcharge on major shareholders, and reforming the inheritance tax system into an estate acquisition tax. He also urged a swift decision to abolish the financial investment tax to increase market predictability.

Regarding protection for vulnerable groups, he proposed to "significantly expand fiscal and financial support." To expand support for small business owners and the self-employed, he mentioned increasing the issuance of Onnuri gift certificates, establishing funds to support promising small businesses, and expanding the New Start Fund. Regarding strengthening youth support, he pledged to expand the eligibility for national scholarships and work scholarships and to introduce housing scholarships for low-income groups.

Choo Kyung-ho Vows to "Definitely Carry Out" Reform Tasks Promoted by the Yoon Seok-yeol Government

Floor Leader Choo pledged to definitely achieve various reform tasks promoted by the Yoon Seok-yeol administration, including pension, medical, labor, and fiscal reforms. Regarding the pension reform plan announced by the government the previous day, he requested, "Let's first form the National Assembly's 'Pension Reform Special Committee' and start discussions to produce tangible results within this year," adding, "I believe in the Democratic Party's sincerity toward pension reform."

He reiterated his determination to complete medical reform to normalize essential and regional medical services. Floor Leader Choo said, "(Medical reform) is about providing better medical services to the people," and earnestly appealed to residents and medical students, "I sincerely ask you once again to return to medical sites and schools even now. The government has been communicating extensively with the medical community, but I hope you open your hearts further and engage in dialogue."

Regarding labor reform, he explained, "We will focus on securing labor market flexibility and resolving the dual structure." To this end, he proposed flexible choices in working hours and types, improvement of rigid wage systems, enactment of the 'Labor Weak Protection Act' to protect unorganized workers, and amendments to the Labor Standards Act to eradicate wage arrears.

Additionally, he promised to promote the legislation of fiscal rules to maintain sound public finances. On this, Floor Leader Choo pointed out, "Maintaining fiscal soundness is an essential condition for the nation's sustainable development," and criticized, "(The law to provide 250,000 KRW to all citizens) is a populist policy like those in many South American countries that ultimately led to fiscal collapse and damaged national economies."

Choo Kyung-ho Calls for "Impeachment of Rumor-Mongering Forces" Amid Repeated Impeachment Motions and Allegations

Floor Leader Choo directly criticized the Democratic Party, saying "the rumor-mongering forces must be impeached," targeting recent allegations by the Democratic Party regarding the government's preparation of martial law. He sharply criticized Park Chan-dae, the Democratic Party's floor leader, who hinted at impeachment in his speech the previous day by mentioning "President Yoon Seok-yeol's dictatorship" and "unfortunate precedents."

Floor Leader Choo also raised his voice against what he called legislative dictatorship, saying, "The Democratic Party has filed impeachment motions against prosecutors investigating Representative Lee Jae-myung," and added, "It is an unprecedented judicial manipulation that shakes the rule of law from its foundation, a legislative outrage where a criminal suspect tries to impeach the investigating prosecutors." Addressing Representative Lee, he said, "Please let the Democratic Party break free from the shackles of a shield party. Respond to investigations and trials confidently on an individual level," and criticized, "Instead, the Democratic Party must escape the quagmire of a shield party captured for the sake of one person, Representative Lee."

During Floor Leader Choo's speech, when opposition lawmakers raised their voices in protest, National Assembly Speaker Woo Won-shik temporarily suspended the speech and urged, "The public is watching, and there are many spectators present. Even if opinions differ, please listen attentively."

Chu Kyung-ho, floor leader of the People Power Party, is delivering a negotiation group representative speech at the plenary session held at the National Assembly on the 5th. Photo by Hyunmin Kim kimhyun81@