Kim Doeup Expresses Willingness to Reach Agreement on Special Semiconductor Act, Banking Act, and Franchise Business Act

"Pushing for Flexible Application of the 52-Hour Workweek in R&D"

Kim Doeup, Policy Committee Chairman of the People Power Party, announced on November 27, "We are willing to reach an agreement on the Special Semiconductor Act, the Banking Act, and the Franchise Business Act."

At the Supreme Council meeting held at the National Assembly that day, Chairman Kim stated, "Although the Democratic Party placed these three bills on the fast-track, effectively stalling discussions for six months, we have decided to take action to get the National Assembly moving again."

It has been reported that the ruling and opposition parties have reached a tentative agreement to pass the Special Semiconductor Act, excluding the '52-hour workweek exception for research and development (R&D) personnel' that companies had requested. Instead, a provision will be included as a supplementary condition stating that 'the issue of working hours will be discussed further.'

The ruling and opposition parties have long been at odds over the 'exception to the 52-hour workweek.' The People Power Party insisted that an exception to the 52-hour rule is essential for certain R&D personnel in response to industry demands, while the Democratic Party opposed this, reflecting the stance of labor groups.

Chairman Kim emphasized, "We will actively promote the flexible application of the 52-hour workweek in fields such as R&D," and urged, "We hope the Democratic Party will also take a forward-looking approach to abolishing the Yellow Envelope Act (the amendments to Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act) and to making reasonable improvements to the excessively strict Serious Accidents Punishment Act."

The People Power Party also plans to include the amendments to the Franchise Business Act and the Banking Act as part of a legislative package focused on people's livelihoods. The Franchise Business Act guarantees that franchisee organizations meeting certain requirements have the right to request negotiations with headquarters regarding transaction terms, fees, and contract renewals. The amendment to the Banking Act includes provisions prohibiting mandatory costs such as deposit insurance premiums and policy funds from being included in additional loan interest rates.