Kim Byungki: "Financial Supervisory Commission Bill to Be Fast-Tracked... Government Organization Act to Be Passed on the 25th"

Democratic Party Floor Strategy Meeting Held on September 16

Kim Byunggi, floor leader of the Democratic Party of Korea, announced, "We will designate the Financial Supervisory Commission Establishment Act as a fast-track agenda item."

Kim Byunggi, floor leader of the Democratic Party of Korea, is speaking at the floor strategy meeting held at the National Assembly on September 16, 2025. Photo by Kim Hyunmin

At the Democratic Party's floor strategy meeting held at the National Assembly in Yeouido on September 16, Kim stated, "We will swiftly push forward with the government reorganization," making this announcement.

Kim explained, "Yesterday, we submitted bills to the National Assembly's Political Affairs Committee, including the Financial Supervisory Commission Establishment Act," and emphasized, "Government reorganization is a critical task directly linked to the recovery of the people's livelihood economy and the future of the Republic of Korea."

He continued, "The People Power Party delayed the formation of the Cabinet after the inauguration of the Lee Jaemyung administration," and warned, "If they continue to refuse to cooperate on government reorganization, they will not be able to avoid criticism for obstructing state affairs." He added, "If the People Power Party ultimately rejects it, the Democratic Party will ensure the amendment to the Government Organization Act passes at the plenary session on the 25th."

On this day, Kim also mentioned the need to discuss the social responsibility of the financial sector. He said, "The current financial structure is paradoxical, with low-income and working-class people facing higher interest rates, while high-income earners receive lower rates," and pointed out, "Banks always claim they are struggling, even amid record-breaking earnings and generous bonuses."

He stated, "There are almost no cases where banks have failed due to deposit interest or credit loans," and explained, "In most cases, crises have been self-inflicted by poor investments and inadequate collateral, and the resulting damage has ultimately been borne by ordinary citizens."

Kim emphasized, "We need to establish institutional measures to ensure that financial profits contribute to fair growth in society," and added, "Various options can be discussed, such as capping interest rates, creating a joint fund among financial institutions, and strengthening compliance obligations for internet-only banks."

In conclusion, he reiterated the importance of establishing the Financial Supervisory Commission to bring about change in the financial sector. He stressed, "We will also swiftly pursue the establishment of the Financial Supervisory Commission as a responsible administrative body," and declared, "Wiping away the tears of the financially vulnerable is the path to achieving economic justice."