People Power Party "Still the Ruling Party" ... High-Level Government-Party Meeting with Government on 20th

Kim Sang-hoon, Policy Committee Chairman of the People Power Party, "I will manage the national crisis"

Kim Sang-hoon, the Policy Committee Chairman of the People Power Party, expressed his determination to resolve the national crisis by holding party-government consultations on the 17th. Although the National Assembly passed an impeachment motion against President Yoon Seok-yeol, he indicated that there is no change in the fact that they remain the ruling party.

At the floor strategy meeting held at the National Assembly that day, Chairman Kim said, "Now is the time for the entire political circle to make every effort for national stability," adding, "All matters related to the president's impeachment should be entrusted to constitutional procedures such as the Constitutional Court, and the government, ruling party, and the entire political circle should focus on national stability centered on the economy, people's livelihood, and security." He continued, "As the People Power Party is still the legitimate ruling party, we will continue to handle the current national crisis in an orderly and responsible manner."

Kwon Seong-dong, floor leader of the People Power Party, is talking with Kim Sang-hoon, chairman of the Policy Committee, at the party meeting held at the National Assembly on the 16th. Photo by Kim Hyun-min

In this regard, the People Power Party announced its intention to continuously hold party-government consultations, which are policy coordination channels between the party and the government.

Chairman Kim stated, "Starting this week, we will continuously hold various levels of party-government consultations, including high-level party-government meetings and working-level meetings by standing committees to address current issues," adding, "On Friday morning at 8 a.m., we will hold a high-level party-government meeting for national stability attended by the Prime Minister, the Ministers of Economy and Finance, Foreign Affairs, National Defense, the Chairperson of the Financial Services Commission, and the Minister of SMEs and Startups." He further said, "All government officials should, under the leadership of Acting President and Prime Minister Han Duck-soo, do their utmost to address national issues without any wavering in their respective positions," and added, "Since the domestic economy continues to stagnate, especially affecting small business owners and self-employed individuals, the party's Policy Committee will cooperate with policy authorities to come up with various measures to stimulate domestic demand, including plans to overcome the local real estate slump, reduce card fees, and extend debt maturity and restructuring support for self-employed business owners who are closing their businesses, as well as financial support measures from the banking sector for small business owners."

He also pledged to accelerate legislation related to people's livelihood. Chairman Kim said, "We will do our best to ensure the prompt passage in the National Assembly of various livelihood bills, including the amendment to the Loan Business Act to eliminate illegal private loans, the amendment to the Depositor Protection Act to raise the deposit insurance limit to 100 million won, and additional legislation to enhance stock market value." He added, "I will also urge the Democratic Party to ensure the swift passage of bills agreed upon with them, such as the Basic Artificial Intelligence Act, the Basic National Power Grid Act, and the Special Semiconductor Act, in the standing committees and the Judiciary Committee."

Meanwhile, Chairman Kim introduced that the American Chamber of Commerce in Korea (AMCHAM) had expressed concerns to Lee Jae-myung, the leader of the Democratic Party, regarding the Act on Testimony, Inspection, and Production of Evidence in the National Assembly (Testimony and Inspection Act). He said, "The Acting President must exercise the right to request reconsideration against such legislative tyranny. Before discussing the veto power, the Democratic Party should immediately repeal the amendment to the Testimony and Inspection Act."