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| On March 3rd, Kim Yong-min, chair of the subcommittee, struck the gavel during a meeting of the Legislative and Judiciary Committee at the National Assembly. Yonhap News |
[Financial News] A legislative public hearing on the third amendment to the Commercial Act, which would mandate the cancellation of treasury stocks, has been confirmed for the 13th, as announced on the 10th.
The National Assembly’s Legislative and Judiciary Committee convened and approved the plan for the public hearing on the Commercial Act amendment.
Earlier, the subcommittee met on the 3rd to review the third amendment for the first time but failed to bridge the gap between the ruling and opposition parties. Lawmakers from the People Power Party called for a public hearing, citing the need for more thorough discussions. The Democratic Party agreed, leading to the scheduled hearing on the 13th.
With the date set, both parties will now begin selecting expert witnesses. The committee plans to choose four specialists knowledgeable about the third amendment to the Commercial Act.
The public hearing will address key issues surrounding the amendment and explore alternatives before resuming the bill review process.
Following President Lee Jae-myung’s direct order to process the third amendment, the Democratic Party aims to pass it through the National Assembly as early as the end of this month. They hope this will help maintain the stock market’s upward trajectory, potentially pushing the KOSPI index beyond 5000 points.
haeram@fnnews.com Reporter Lee Haeram
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