Kwon Seong-dong: "Democrats Blocking Reconstruction and Redevelopment, Do They Qualify as Moderate Conservatives?"

"If You Are Sincere About Economic Recovery,
Cooperate in Passing the Reconstruction Promotion Act"

Kwon Seong-dong, floor leader of the People Power Party, urged the passage of the 'Reconstruction Promotion Act' on the 21st, saying, "Does a party that intends to nail down the coffin so that reconstruction and redevelopment cannot be done in the Republic of Korea have the right to talk about moderate conservatism?"

At the party floor countermeasure meeting that day, Floor Leader Kwon held the Democratic Party responsible, saying, "The core livelihood bill, the Reconstruction and Redevelopment Promotion Act, is being held back by the Democratic Party's opposition."

Yonhap News

The bill promoted by the government and ruling party allows major procedures for redevelopment and reconstruction to be processed simultaneously, shortening the process by up to three years. It also includes provisions to relax floor area ratio limits to expand the feasibility of reconstruction and redevelopment projects.

Floor Leader Kwon criticized, "Although this bill needs to be passed promptly to stimulate the economy and stabilize the real estate market, the opposition party is delaying discussions day by day, calling it a 'Seoul and metropolitan area privilege law' and a 'Gangnam rich privilege law.' If they ultimately oppose this bill as a Seoul privilege law, it means they intend to nail down the coffin of 'killing the provinces.'"

He continued, "If the Reconstruction Promotion Act is a pro-rich policy, then the livelihood recovery fund proposed by Lee Jae-myung, which pours 15 trillion won of taxpayers' money and distributes 250,000 won even to high-income wealthy people in Seoul, would undoubtedly be the ultimate pro-rich policy," directly attacking.

Floor Leader Kwon urged, "Does a party that intends to nail down the coffin so that reconstruction and redevelopment cannot be done in the Republic of Korea have the right to talk about moderate conservatism? If the Democratic Party is sincere about economic recovery, I hope they cooperate in the swift passage of the Reconstruction Promotion Act."

Regarding the amendment to the Commercial Act proposed by the Democratic Party, he also criticized it as "a contradictory claim to lower corporate investment incentives to raise stock prices."

Floor Leader Kwon pointed out, "The duty of loyalty of directors is expanded to shareholders and applied to both listed and unlisted corporations," expressing concerns that if the bill passes, it could lead to excessive shareholder lawsuits and accusations, as well as threats to corporate management rights by speculative capital.