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Ministry of Justice Reports to National Policy Planning Committee: "Active Support for Enactment of Commercial Act Amendments"

National Policy Planning Committee:
"Disciplinary Actions Against Superintendents Who Opposed Police Bureau Should Be Lifted"

The Ministry of Justice reported to the National Policy Planning Committee that it would actively support the enactment of amendments to the Commercial Act, a key campaign pledge of President Lee Jaemyung. The ministry also announced plans to introduce a new visa to attract overseas talent in the field of artificial intelligence (AI).


According to the National Policy Planning Committee on June 23, the Ministry of Justice gave a work report on June 20 at the Changseong-dong annex of the Government Complex Seoul, stating, "We will pursue justice policies in line with the new administration's direction," and included these measures in its report.


The proposed amendments to the Commercial Act are aimed at strengthening shareholder protection and enhancing the transparency of corporate governance, with the goal of resolving the so-called "Korea Discount"?the undervaluation of the Korean stock market.


The Ministry of Justice also reported plans to introduce a "Top-Tier Visa" with incentives for the AI sector to attract outstanding overseas talent. Additionally, to help retain talented foreign students currently studying in Korea, the ministry plans to expand the current fast-track permanent residency and naturalization program for outstanding talent in science and technology?which is currently implemented at five specialized institutions?to include general universities, including regional national universities.


Ministry of Justice Reports to National Policy Planning Committee: "Active Support for Enactment of Commercial Act Amendments" Ryu Samyoung, former chief superintendent who led the nationwide police chiefs' meeting in opposition to the establishment of the Ministry of the Interior and Safety's Police Bureau. Photo by Yonhap News

On the same day, the National Police Agency also reported on major current issues and discussed with subcommittee members the abolition of the Police Bureau and measures to strengthen the role of the National Police Commission. The committee members emphasized that abolishing the Police Bureau is necessary to strengthen the political neutrality of the police and reinforce democratic oversight.


The Police Bureau under the Ministry of the Interior and Safety was established by the previous administration of Yoon Sukyeol to keep the National Police Commission in check. This organization, which disappeared when the National Police Agency was separated from the Ministry of Home Affairs (now the Ministry of the Interior and Safety) in 1991, was revived after 31 years. The direct command and supervision of the police by the Minister of the Interior and Safety sparked criticism that it undermined the independence of the police.


The planning and policy experts of the National Policy Planning Committee also called for measures to restore personnel disadvantages suffered by those who attended the superintendents' meeting in July 2022 in opposition to the establishment of the Police Bureau, in order to demonstrate the administration's sincerity in fulfilling its pledge to abolish the Police Bureau. At that time, about 190 superintendents?one-third of all superintendents nationwide?attended the meeting. Ryu Samyoung, the former chief superintendent who led the meeting, was suspended for three months and subsequently resigned. The following year, there was controversy over "retaliatory personnel measures" against those who had attended the meeting.


Lee Haesik, head of the Political and Administrative Subcommittee, urged that, in order to prevent the recurrence of incidents like the Itaewon disaster, the future direction of police work should be set and considered as a national policy task based on deep reflection and introspection.


During the Ministry of Food and Drug Safety's work report at the Social Affairs Subcommittee 1, topics discussed included measures to prevent the misuse of medical narcotics and expand rehabilitation, as well as ways to improve access to rare and essential medicines.


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