Ruling Party to Fast-Track 11 Bills Related to Government Organization Act Amendments

11 Bills Under Political Affairs and Strategy & Finance Committees, Including the Financial Services Commission Establishment Act, Designated for Fast-Track Processing

The Democratic Party of Korea has decided to designate 11 bills under the jurisdiction of the National Assembly’s Political Affairs and Strategy & Finance Committees, including the Financial Services Commission Establishment Act and amendments to the Government Organization Act, as fast-track items for expedited processing.

Kim Hyunjung, the Democratic Party’s floor spokesperson, told reporters after the Supreme Council meeting held at the National Assembly on the 22nd, “Since the chairpersons of both the Political Affairs and Strategy & Finance Committees are from the People Power Party, there has been no cooperation in handling the Government Organization Act. Unfortunately, we have no choice but to put 11 bills on the fast-track list.”

The fast-track items include nine bills under the Political Affairs Committee-such as the Financial Services Commission Establishment Act, the Act on Corporate Governance of Financial Companies, the Banking Act, the Internet-only Bank Act, the Financial Consumer Protection Act, the Insurance Business Act, the Credit Information Act, the Specialized Credit Finance Business Act, and the Electronic Financial Transactions Act-as well as two bills under the Strategy & Finance Committee: the Act on the Management of Public Institutions and the Statistics Act.

Kim stated, “At the plenary session scheduled for the 25th, approximately 49 bills, including 37 that were not referred last time, are expected to be submitted. The likely order of agenda items will be the Government Organization Act, the Broadcasting Media and Communications Committee Establishment Act, the National Assembly Act, the amendment to the rules on the number of standing committee members, the Act on Testimony and Appraisal before the National Assembly, and the National Assembly Records Act.”

She further predicted, “The opposition parties are saying they will launch a filibuster (unlimited debate). Although it has not been officially confirmed yet, up to six bills may be subject to a filibuster, and it seems certain that two of those bills will indeed be filibustered.”

Meanwhile, in response to Supreme Court Chief Justice Cho Heedae-who is facing pressure to resign from the ruling party-remarking that “King Sejong regarded the law not as a tool for strengthening royal authority, but as a normative foundation to improve the quality of life for the people and guarantee their rights,” Park Suhyeon, the Democratic Party’s chief spokesperson, countered, “As the head of a court that canceled the detention and released the ringleader of the rebellion, Yoon Sukyeol, he is in no position to make such comments.”