Interpellation on Economic Affairs: Fierce Debates Expected over Yellow Envelope Act, Commercial Act, and Real Estate

Consumer Coupons and Fiscal Soundness Under Scrutiny
Corporate Investment in the US Also a Key Issue

On the fourth day of the interpellation session, the ruling and opposition parties are set to clash over key economic issues, including the Yellow Envelope Act (the proposed amendments to Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act) and the second round of amendments to the Commercial Act.

On September 17, the National Assembly will convene a plenary session to conduct an interpellation on economic affairs. Representing the government will be Prime Minister Kim Minseok, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol, Minister of Trade, Industry and Energy Kim Jeonggwan, and Minister of Land, Infrastructure and Transport Kim Yoonduk.

Yonhap News Agency

From the Democratic Party, lawmakers Lee Eonju, Kwon Chilsung, Joo Cheolhyeon, Heo Seongmu, and Kim Younghwan will participate in the questioning. They are expected to highlight the policy achievements of the Lee Jaemyung administration, such as the effect of consumer coupons for revitalizing domestic demand and the continued record-high performance of the KOSPI index.

From the People Power Party, lawmakers Kim Sanghoon, Lee Heonseung, Cho Eunhee, and Cho Seunghwan will take part in the questioning. They are likely to focus on the problems associated with the Yellow Envelope Act and the Commercial Act amendments, which were passed under the leadership of the Democratic Party. They plan to emphasize that companies are facing increased external risks due to investments in the United States and tariff burdens, while also suffering from various regulations, and will argue for the need for supplementary legislation.

The government's expansionary fiscal policy and real estate measures will also be debated. The Democratic Party is expected to stress the necessity of expansionary fiscal policies to boost the economy, while the People Power Party will likely highlight concerns about fiscal soundness and the limited effectiveness of increased spending. Divergent evaluations are also expected regarding the September 7 real estate measures, which focus on public-led supply and stricter loan regulations.

The previous day, during the interpellation session on foreign affairs, unification, and national security, the two parties also engaged in heated debate over the Lee Jaemyung administration's foreign policy. The People Power Party criticized the administration's handling of the Korea-US tariff negotiations and the detention of Korean nationals in the state of Georgia, calling it "disappointing diplomacy that goes beyond mere mistakes." The Democratic Party expressed concern over the Georgia incident and urged the government to prevent a recurrence.