The Democratic Party of Korea and the government have decided to abolish the crime of breach of trust in the Criminal Code and to protect business operators who have fulfilled their normal business judgments or duties of care.
They have also agreed to convert minor administrative obligation violations into fines and to establish a principle of “administrative action first, punishment later.”
The party and the government reached this agreement at the “Task Force Meeting for Rationalizing Economic Criminal and Civil Responsibility” held at the National Assembly today (30th), according to Kwon Chil-seung, the head of the Democratic Party’s task force.
Additionally, they are considering measures to strengthen civil responsibility to protect victims and expand the punitive damages and class action systems.
Kim Byung-ki, the party’s floor leader, stated at the meeting that rationalizing economic criminal civil responsibility is a plan for public welfare and livelihood economy, promising to implement both aspects to bring changes that the people can feel.
Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol also mentioned that they would reduce punishments but enhance financial accountability to alleviate the public burden.
※ “Your tip becomes news.”
[KakaoTalk] Search for YTN and add the channel
[Phone] 02-398-8585
[Email] [email protected]