Government: "Veto Exercise Under Final Review... Solely Based on Constitution and Laws"

Deliberation on Vetoing Six Bills Including the Grain Management Act
Decision Based on Law Regardless of Prime Minister Impeachment Pressure
South Korea Strengthens Communication with Foreign Companies and Resident Ambassadors

Acting President Han Duck-soo and Prime Minister

The government stated that it will "review until the last moment" whether to exercise the veto power on six contentious bills, including the Grain Management Act passed by the opposition-led National Assembly, as well as the special investigation bills on First Lady Kim Geon-hee and the insurrection special investigation bill. The decision is expected to be made at the provisional Cabinet meeting, possibly held on the 19th, as Prime Minister and Acting President Han Deok-soo continues to deliberate.

A senior official from the Prime Minister's Office told reporters at the Government Seoul Office Building on the afternoon of the 18th that regarding the exercise of veto power on the six bills, "We will review until the last moment," adding, "We will make a final review until the last moment based on the Constitution, laws, and from the perspective of the nation's future and the public."

The six bills, including amendments to the National Assembly Act, the National Assembly Testimony and Inspection Act, the Grain Management Act, the Agricultural and Fishery Products Distribution and Price Stabilization Act, the Agricultural and Fishery Disaster Countermeasures Act, and the Agricultural and Fishery Disaster Insurance Act, were passed by the opposition-led plenary session of the National Assembly on the 28th of last month and sent to the government. Acting President Han must decide whether to exercise veto power on these bills by the 21st.

There are forecasts within and outside the government that the veto power will be exercised at a provisional Cabinet meeting as early as the 19th. A senior official from the Prime Minister's Office said, "(The provisional Cabinet meeting) has not been finally decided," and "We will inform you when the decision is made."

As the ruling and opposition parties are fiercely clashing over the veto power, Acting President Han is also reportedly deliberating on whether to exercise the veto while monitoring the negotiations between the parties. The senior official said, "We are explaining individually to each ministry, mainly to opposition standing committee members," adding, "We will ensure thorough communication with the National Assembly without any setbacks."

Regarding the exercise of veto power on the special investigation bills on First Lady Kim Geon-hee and the insurrection, which were sent to the government the previous day, the official explained, "We will review until the last moment which is in accordance with the Constitution and laws." This special investigation bill has a government review deadline of January 1 next year, but since it is a holiday, a conclusion is expected by December 31 of this year.

Regarding the speculation that if Acting President Han exercises the veto power, the Democratic Party of Korea may initiate impeachment, the official said, "We will make a judgment according to the Constitution and laws."

The first-term lawmakers' group of the Democratic Party of Korea, "Deomincho," held an emergency general meeting on the afternoon of the 26th of last month at the National Assembly Members' Office Building regarding the current political situation, shouting slogans before the meeting. Photo by Yonhap News

Regarding the appointment of the three constitutional court justice candidates recommended by the National Assembly, the official said, "There are various interpretations and controversies, so we need to listen to diverse opinions," adding, "We will review this going forward."

On the participation in the National Stability Consultative Body proposed by Lee Jae-myung, leader of the Democratic Party, the official expressed willingness, saying, "If the ruling and opposition parties agree and invite us today, we will go and participate."

Meanwhile, the government emphasized that it is making active efforts to revive the sluggish economy.

Bang Ki-seon, Minister of the Office for Government Policy Coordination, said on the day, "In the economic sector, to stabilize people's livelihoods and maintain external credibility, through the 'F4 (Economic Deputy Prime Minister, Governor of the Bank of Korea, Chairman of the Financial Services Commission, and Governor of the Financial Supervisory Service) meetings and macroeconomic financial inspection meetings, we are closely monitoring the foreign exchange and financial markets to ensure there are no problems and taking necessary measures as needed."

Minister Bang particularly emphasized, "Because foreign investment companies need to be confident that there are no issues with investing in our country, the Acting President will focus on communication with foreign companies that have entered Korea and foreign ambassadors in Korea and will hold events accordingly."