Game user protection, tax credits for subcontractor support
Proposed Bill: Partial Amendment to the Game Industry Promotion Act
Proposed by Rep. Kim Byung-kee (Democratic Party of Korea)
● This amendment requires game companies to retain records of probabilistic item acquisition outcomes for at least three years and to disclose them to users in order to enhance transparency regarding probabilistic items.
Proposed Bill: Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation
Proposed by Rep. Kim So-hee (People Power Party)
● This amendment establishes tax credits for expenses incurred to support subcontractors' industrial accident prevention efforts — 3 percent for large companies, 6 percent for middle-standing enterprises and 12 percent for small and midsized businesses — deductible from corporate or income tax in the year the expense was incurred.
Pending Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act
Proposed by Rep. Yoon Han-hong (People Power Party)
● This amendment clarifies the directors' duty to protect shareholders' interests by specifying that in the event of a merger, an essential business or asset transfer, an all-inclusive stock swap or transfer, or a split or split and merger, the board of directors must make every effort to protect shareholders' legitimate interests.
Promulgated Bill: National Pension Act
Competent Authority: Ministry of Health and Welfare
● This amendment — Korea's first pension reform in 18 years since 2007 — raises the contribution rate from 9 percent to 13 percent and increases the nominal income replacement rate from 40 percent to 43 percent.
● This amendment renders both the principal and interest of a loan agreement null and void if the annual interest rate exceeds 100 percent, treating such contracts as socially unacceptable lending practices.
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Korea Herald
2 hours ago
- Korea Herald
Far right rears its head in conservative leadership race
South Korea's main opposition People Power Party is heading into a turbulent leadership race — with a far-right firebrand gaining support and threatening a hostile leadership takeover as the party reels from its June 3 election defeat. Kim Moon-soo, the presidential candidate who was labor minister in the Yoon Suk Yeol administration, declared his candidacy on Sunday in the party's Aug. 22 leadership election. In his announcement, Kim accused the Lee Jae-myung administration of exerting improper influence over the legislative and judicial branches, referring to Lee as a 'criminal' and 'autocrat' — language often used by critics of the current administration, including supporters of former President Yoon Suk Yeol. Kim also said the party 'should accept his membership and keep the doors open unless there's a particular issue,' when asked about the recent entry of Jeon Han-gil, a far-right YouTube personality and former history lecturer. Jeon, a vocal opponent of Yoon's impeachment, was revealed last week to have joined the People Power Party in early June — a belated disclosure that has sparked growing controversy. In an interview Friday with broadcaster Channel A, Jeon said he would run for party leader "if there is no suitable candidate who supports" Yoon. Despite having no formal political expeience or electoral record, he has built a loyal following among hard-line conservatives by spreading conspiracy theories — including claims that the Democratic Party of Korea seized power through election fraud — and by urging voters to rally behind candidates loyal to Yoon. Observers say that Jeon's appeal lies in his role as a megaphone for the party's most extreme base. "He gives voice to the hardcore pro-Yoon base — and like it or not, that translates into real support for the People Power Party," said a source who previously served on the People Power Party's June 3 campaign team. "Other lawmakers stage sit-ins and nobody cares. But when Jeon speaks, his far-right remarks go viral. He's someone the party can no longer simply ignore." On Saturday, Jeon further escalated his rhetoric, questioning whether he or former party leader Han Dong-hoon was the "true leader of the conservative bloc." He added, "We must take over the People Power Party," calling on his supporters to unite behind a pro-Yoon candidate. The next day, Han — a key reformist voice who has emphasized the need to distance the party from Yoon — issued a sharp rebuttal, condemning both Jeon and Kim's approach as a dead end for the conservative bloc. "When the question itself is absurd, there can be no right answer. The idea of asking 'who is the party's rightful owner' shows the essence of extremism," Han wrote on Facebook. "Turning the PPP into a far-right party is a sure path to collapse. ... If we go down this road, conservatism will never reclaim power." Han is also reported to be considering a bid for the party leadership. Jeon's eligibility to run, however, remains in question. Under People Power Party rules, leadership candidates must have paid party dues for at least three months before registering. With registration set for July 30–31, Jeon — who joined on June 9 — falls short of this requirement. Still, the People Power Party might bend the rules if necessary, according to the same source. "The game of rules can change — it already did during the presidential race," the source said, referring to the party leadership's failed attempt to replace Kim with former Prime Minister Han Duck-soo as its presidential nominee, even after the final primary. Other prominent figures who have distanced themselves from Yoon have yet to present a clear strategy to counter the party's internal divisions and the growing influence of the far-right. Rep. Ahn Cheol-soo, a former presidential contender, has criticized Jeon's entry into the race as "inappropriate" and said the party should reject him. Earlier this month, Ahn stepped down as head of the party's reform committee — launched on July 2 in an effort to restore public support — and declared his candidacy for the party's leadership election. Rep. Na Kyung-won, another former presidential contender and once a front-runner for party leadership, announced Sunday that she would not run, saying she would take her share of responsibility for the party's election defeat. Meantime, the PPP's reform drive — once viewed as key to recovering from its presidential defeat — is losing steam. Led by Rep. Yoon Hee-sook, the reform committee proposed revising the party charter to include formal apologies for Yoon's martial law declaration and impeachment. However, the proposals are widely expected to face immediate backlash from Yoon loyalists in senior party positions, many of whom would be blocked from running for another Assembly term under the plans.
Korea Herald
6 hours ago
- Korea Herald
Conservative leadership race begins amid far-right push for power
South Korea's main opposition People Power Party is heading into a turbulent leadership race — with a far-right firebrand gaining ground and threatening to upend the party's future, while the party is still reeling from its June 3 presidential defeat. Kim Moon-soo, the presidential candidate who was labor minister in the Yoon Suk Yeol administration, declared his candidacy on Sunday in the party's Aug. 22 leadership election. In his announcement, Kim echoed far-right talking points, blaming the Lee Jae Myung administration for what he called a collapse of Korea's three branches of power and labeling Lee a 'criminal' and 'autocrat' — rhetoric popular among Yoon's most ardent supporters. Kim rose to prominence within pro-Yoon circles last year when he refused to apologize for the December martial law declaration during a parliamentary hearing — a rare show of defiance among Yoon's former Cabinet members, most of whom expressed regret under pressure. That act solidified his image as a faithful standard-bearer for Yoon's legacy. But even before Kim's announcement, attention had already turned to a far more polarizing figure: Jeon Han-gil, a far-right YouTube personality and former history lecturer. On Friday, Jeon suggested he would enter the race if no other Yoon-aligned candidate stepped forward, speaking in an interview with local broadcaster Channel A. Despite having no formal political experience or electoral record, Jeon has built a loyal following among hard-line conservatives through the dissemination of conspiracy theories — including allegations that the Democratic Party of Korea came to power through election fraud — and by calling on voters to rally behind candidates loyal to Yoon. Observers say Jeon's popularity stems from his perceived role as a megaphone for the party's most extreme supporters. 'He gives voice to the hardcore pro-Yoon base — and like it or not, that translates into real votes,' said a source who previously served on the People Power Party's June 3 campaign team. 'Other lawmakers stage sit-ins and nobody cares. But when Jeon speaks, his far-right remarks go viral. He's someone the party can no longer simply ignore.' On Saturday, Jeon further escalated his rhetoric, questioning whether he himself or Han Dong-hoon — the party's former leader — was the 'true leader of the conservative right.' He declared, 'We must take over the People Power Party,' signaling his intent to run and calling on tens of thousands of party members to unite behind a pro-Yoon candidate. The next day, Han — a key reformist voice who has emphasized the need for the party to distance itself from Yoon — issued a sharp response, warning against the normalization of extremism. 'Freedom of speech is not a license for hate and anti-intellectual extremism,' Han wrote on Facebook. 'Our party cannot become a joke — a white dwarf shrunk into a far-right sect that alienates the public and hands long-term power to the liberals.' Jeon's eligibility to run, however, remains in question. Under People Power Party rules, leadership candidates must have paid party dues for at least three months before registering. With registration set for July 30–31, Jeon — who joined on June 9 — falls short of this requirement. Still, some believe party leadership may bend the rules. 'The game of rules can change,' the same source said, noting that the party had recently attempted to replace its presidential candidate even after the final primary — referring to former Prime Minister Han Duck-soo. Other prominent reform-minded figures have refrained from directly confronting Jeon, instead keeping their distance from the Yoon-aligned faction. Rep. Na Kyung-won, a former presidential primary contender and one-time front-runner for the party leadership, announced Sunday she would not run, citing responsibility for the party's recent electoral defeat. Rep. Ahn Cheol-soo, another former presidential candidate who declared his bid for party leader earlier this month, reportedly had lunch with Han on Saturday — a meeting that sparked speculation of a centrist alliance. The discussion was widely seen as focusing more on how to navigate the party's internal discord than on coordinating a joint campaign. Meanwhile, the People Power Party's internal reform effort — once seen as a critical path to restoring public trust — is also being eclipsed by the leadership race. Officially launched on July 2 and led by Rep. Yoon Hee-sook, the reform committee proposed revising the party charter to include formal apologies for Yoon's martial law declaration and impeachment. The proposals are expected to be discussed at the party's emergency meeting on Monday, but they are also expected to face immediate internal backlash and remain unresolved.
Korea Herald
6 hours ago
- Korea Herald
Lee Jae Myung faces mounting criticism over minister picks
President Lee Jae Myung faces calls to cancel some ministerial picks as he moves to fill Cabinet posts, while all eyes are on whether Lee will override the criticism raised against some nominees. The conservative main opposition People Power Party's interim leader, Rep. Song Eon-seog, demanded that Lee not proceed with presidential nominations of at least two nominees at a closed-door meeting with President Lee and the ruling Democratic Party of Korea's floor leader Rep. Kim Byung-kee, according to the People Power Party. There, Kim demanded that Lee approve all 16 minister nominees who completed the confirmation hearing over the past week. This came alongside the main opposition party's statement Sunday that the presidential nominations of Rep. Kang Sun-woo to lead the Ministry of Gender Equality and Family and former Chungnam National University President Lee Jin-sook for Education Minister should be withdrawn. In South Korea, a president may proceed with the approval of their nominations for all Cabinet ministers once they have undergone a parliamentary confirmation hearing. The National Assembly is supposed to adopt confirmation hearing reports if the two rival parties agree on the presidential nomination, but they are not required for a president to proceed with his approval. Kang, a two-time lawmaker of the ruling party, is suspected of having abused her authority by asking her secretaries to do her personal chores. Lee is embroiled in allegations related to academic plagiarism and excessive spending on her children's education overseas, which allegedly involved a violation of the Elementary and Secondary Education Act. The brewing controversy over Lee's nomination of Kang has drawn mixed reactions, even from within the ruling party. Rep. Jung Chung-rae, who openly expressed support for Kang by describing her as not only "a warmhearted mother and outstanding lawmaker" but also a "soon-to-be gender equality minister," has taken the lead in the primary to elect the new chair of the ruling Democratic Party of Korea. Jung's contender and former party whip Rep. Park Chan-dae, on the other hand, called for prudence before the presidential confirmation of the matter. According to the presidential office, Lee was to make up his mind on his nominations following a presidential office closed-door briefing on Sunday; his final decision had yet to be announced as of press time. Meanwhile, such controversies appear to have had little impact on Lee's popularity. A poll by Gallup Korea showed Friday that Lee's job approval rating reached 64 percent, as responses hovered around the mid-60 percent range over the past month. Among those who disapproved of Lee's performance, only 11 percent cited his presidential nominations as the reason for their disapproval. Before Sunday, Lee approved the nominations of six ministers of the Cabinet. These are Finance Minister and Deputy Prime Minister Koo Yoon-cheol, Science Minister Bae Kyung-hoon, Justice Minister Jung Sung-ho, Foreign Minister Cho Hyun, Interior Minister Kim Jung-kwan and Interior Minister Yun Ho-jung. Prime Minister Kim Min-seok gained a final presidential confirmation on July 3. They were among the 16 ministerial nominees who underwent confirmation hearings throughout the previous week. Along with them, Lim Kwang-hyun, who was picked for the role of the chief of the tax authorities — a vice-ministerial level position — also went through the hearing. South Korea's Cabinet comprises 20 members, including a prime minister and 19 ministers. Among them, incumbent Agriculture Minister Song Mi-ryung, who had been serving in the role before President Lee took office, will not undergo a confirmation hearing. The two remaining nominees — Chae Hwi-young of the Ministry of Culture, Sports and Tourism and Kim Yun-duk of the Ministry of Land, Infrastructure and Transport — have yet to go through confirmation hearings.
