**Acting President Choi May Veto Bill**
On the 27th, the “Myong Taegyun Special Prosecutor Act,” aimed at investigating President Yoon Suk-yeol, his spouse, and ruling party officials, was passed by the National Assembly, led by the Democratic Party and five other opposition parties. The People Power Party has requested that Acting President Choi Sang-mok exercise his veto power against the bill. Considering that there was no bipartisan agreement, Choi may exercise the veto.
The bill was passed with 182 votes in favor, 91 against, and one abstention out of 274 present members in the National Assembly. The People Power Party voted against the bill as per their party line, except for one member, Kim Sang-wook.
The “Myong Taegyun Special Prosecutor Act” targets seven allegations for investigation, including Myong’s involvement in illegal and false opinion polls related to public office elections, and claims that President Yoon and his spouse were involved in these activities during the last presidential election. The candidates for the special prosecutor are to be recommended by the Chief Justice, from whom the president will appoint one. The investigation period may last up to 90 days. However, the People Power Party opposes the bill, stating that the Democratic Party might use this as a political tool against the ruling party if an early presidential election occurs.
A ruling party source indicated that Acting President Choi is unlikely to promulgate contentious bills without bipartisan agreement and may request a reassessment of the “Myong Taegyun Special Prosecutor Act.”
On the same day, the National Assembly also passed the so-called “Energy Three Laws” through bipartisan agreement. These include the “Special Act for High-level Radioactive Waste Repository” to solve spent nuclear fuel storage issues, the “Special Act for Power Grid” to address the lack of grid infrastructures inhibiting electricity distribution, and the “Special Act for Offshore Wind Power” to regulate the influx of private sector projects. Additionally, the “K-Chips Act,” aimed at enhancing tax benefits for semiconductor facility investments, and an amendment to the Broadcasting and Communication Commission Act, setting the quorum for committee meetings at three, were also passed.
Regarding the Broadcasting and Communication Commission amendment, the Democratic Party argued for the need for revision, stating the existing law lacked a quorum provision, allowing decisions to be made unilaterally by the chairman and two members appointed by the president. The People Power Party opposed this amendment.
National Assembly Speaker Woo Won-shik did not accommodate the Democratic Party’s request to table the Commercial Act amendment, which includes expanding directors’ fiduciary duty to include shareholders. Taking into account concerns from the People Power Party and the business sector, Woo plans to mediate between the parties. The Democratic Party had aimed to finalize the amendment on the 24th at the Legislation and Judiciary Committee’s subcommittee and on the 26th at the full committee meeting before a final vote. However, Woo halted the process by stating further discussions among negotiating bodies are needed. Woo mentioned in a press conference that he might present a mediation proposal at the scheduled government meeting involving ruling and opposition parties on the 28th.