Kim Moon-soo, the presidential candidate of the People Power Party, stated on the 15th that he would “definitely amend bad laws like the Serious Accidents Punishment Act and the Yellow Envelope Act so that they no longer trouble businesspeople.”
Candidate Kim attended a breakfast lecture hosted by the Small Business Entrepreneurs Association that day and expressed his opposition regarding the Serious Accidents Punishment Act, which strengthens the penalties for business owners in case of serious accidents, and the so-called “Yellow Envelope Act” (a proposed amendment to the Labor Union Act), which limits companies’ claims for damages against labor union strikes.
He pointed out, “The biggest problem right now is whether it is appropriate to apply the Serious Accidents Punishment Act to small and medium-sized enterprises,” adding, “This law is very unfavorable to our companies.” Regarding the Yellow Envelope Act, he questioned, “Should we continue to make such laws that violate all constitutional and civil law provisions?” The Yellow Envelope Act was passed twice in the National Assembly under the leadership of the Democratic Party but was vetoed by former President Yoon Seok-yeol. Democratic Party presidential candidate Lee Jae-myung has recently reintroduced it as a campaign pledge.
Candidate Kim emphasized, “The erroneous thinking that small businesses have fewer votes than labor unions and only counting the union votes will ruin the economy.” He added, “My wife, brother, and I all come from union backgrounds, but the conclusion we’ve reached is that without businesses, there are no unions, no jobs, no welfare, and it’s difficult to sustain a nation.” He promised, “As companies are the most important key entities in the economy, in the nation, and in families, I will do my utmost to foster the growth of businesses.”