Ruling Party to Vote on Broadcasting Laws First.. Yellow Envelope Act and Commercial Act Postponed to Late This Month

[Financial News] The Democratic Party of Korea decided to first submit the Broadcasting Laws (Broadcasting Act, Broadcasting Culture Promotion Act, Korea Educational Broadcasting System Act amendments) to the National Assembly plenary session on the 4th. As a result, the Yellow Envelope Act (Labor Union Act Articles 2 and 3 amendments) and the second amendment to the Commercial Act have been postponed to the plenary session on the 21st.
The first agenda item among the bills submitted to the plenary session on this day to be voted on during the July extraordinary session of the National Assembly. This is because the People Power Party is planning to engage in a filibuster (an unlimited debate to legally obstruct proceedings under the National Assembly Act).
Under the National Assembly Act, a filibuster can be terminated with the consent of more than 180 seats, but voting is possible 24 hours later. Therefore, voting will take place on the 5th, and if the next agenda item also undergoes a filibuster, the July extraordinary session of the National Assembly, which lasts until the 5th, will end.
Song Eon-seok, the emergency response committee chairman and floor leader of the People Power Party, stated at the general meeting of lawmakers on the same day, "We will fight against any law that comes up with a filibuster," targeting the Broadcasting Laws, Yellow Envelope Act, and the second amendment to the Commercial Act.
With the postponement of the Yellow Envelope Act and the Commercial Act, the business community has breathed a sigh of relief. The Yellow Envelope Act focuses on limiting claims for damages from strikes and granting subcontractor workers the right to negotiate with the main contractor, while the Commercial Act includes the introduction of cumulative voting and the expansion of separate election of audit committee members, increasing the burden on companies.
Song, the emergency response committee chairman, criticized the two bills, saying, "The Lee Jae-myung administration and the Democratic Party, which are forcibly pushing through anti-business and anti-market evil laws, are indeed an economic rebellion that undermines the principles of the constitution, market economy order, and liberal democracy."

uknow@fnnews.com Kim Yun-ho, Kim Hyeong-gu reporters