Stronger Commercial Act passed

[Anchor]

The second amendment to the Commercial Act, known as the "Stronger Commercial Act," was passed today (Aug. 25) in the National Assembly, led by the ruling party.

The Democratic Party, which passed all five contentious bills, pushed forward with plans for prosecutorial reform, while the People Power Party warned that it might boycott the regular National Assembly session.

Reporter Park Young-min has the story.

[Report]

["I declare it passed."]

The second amendment to the Commercial Act, which includes the mandatory 'concentrated voting system,' has passed through the National Assembly.

Despite the People Power Party's opposition through unlimited debate and filibustering, it was voted on within 24 hours under the leadership of the Democratic Party and other ruling coalition members.

As a result, all five contentious bills promoted by the Democratic Party have passed the threshold of the plenary session.

["Destruction of cooperation! Dictatorial legislation!"]

The People Power Party expressed its opposition.

They referred to the amendment to the Commercial Act, along with the Yellow Envelope Act, as an 'economic insurrection law' that constrains corporate activities, urging President Lee to exercise his right to request reconsideration.

[Song Eon-seog/Chairman of the People Power Party Emergency Response Committee and Floor Leader: "When cornered during the Korea-U.S. tariff negotiations, they reached out to businesses for help, but now they are shamelessly backstabbing them with reckless unilateralism..."]

The Democratic Party countered that it is a law to revitalize the capital market and a reform for the people's livelihood.

They criticized the opposition's filibuster as a desperate attempt to obstruct without any substantial content.

[Park Soo-hyun/Senior Spokesperson of the Democratic Party: "The People Power Party, which tried to block reform legislation until the end, has proven itself to be an anti-reform, anti-livelihood force that has abandoned the people's livelihood."]

They also announced plans for additional legislative drives.

The third amendment to the Commercial Act, which includes the mandatory 'share buyback and cancellation,' and the 'Special Prosecutor Act amendment' to expand the personnel and scope of the three major special prosecutors are also being pursued.

The People Power Party has warned that if the ruling party proceeds with the amendment to the Special Prosecutor Act, they will completely boycott the schedule of the regular National Assembly in September, indicating that the confrontation between the ruling and opposition parties over legislation may continue for a long time.

KBS News, Park Young-min.