Assembly fails to override acting presidents' vetoes on three opposition-backed bills

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Assembly fails to override acting presidents' vetoes on three opposition-backed bills

Published: 17 Apr. 2025, 18:12

Audio report: written by reporters, read by AI

Lawmakers vote on key bills that were previously vetoed under the acting president system at the National Assembly in Yeoudio, western Seoul, on April 17. [NEWS1]

Three key opposition-backed bills vetoed under the acting president system — the second insurrection special counsel bill, the Myung Tae-kyun special counsel bill, and the Commercial Act revision — were rejected in re-votes in the National Assembly on Thursday, following the impeachment of former President Yoon Suk Yeol.

In the vote on the second insurrection special counsel bill, 197 lawmakers voted in favor and 102 against, falling short of the two-thirds majority of 199 votes required to override the acting president’s veto. The total number of lawmakers present was 299.

For a vetoed bill to pass on reconsideration, a majority of lawmakers must be present, and at least two-thirds of those present must support the bill. Even with the opposition holding a majority, at least seven ruling People Power Party (PPP) lawmakers would have had to break ranks to push the bill through.

The second special counsel bill had been vetoed by then-Acting President Choi Sang-mok on Jan. 31. The Democratic Party (DP) had revised the bill after the first version was rejected on Dec. 31, narrowing the scope of investigation and changing the nomination process for the special prosecutor in an effort to accommodate ruling party demands.

“The opposition party passed the National Assembly plenary session alone without bipartisan agreement, and most of the key figures in the military and police, including the incumbent president, have already been arrested and indicted, and trial procedures have begun,” Choi had said at the time, sending the bill back to the National Assembly.

The Myung Tae-kyun special counsel bill was also struck down in a re-vote. It received the same 197 votes in favor, with 98 opposed and four ballots invalidated. The bill called for an investigation into self-proclaimed political broker Myung, who allegedly used his ties to Yoon and his wife Kim Keon Hee to interfere in multiple elections and obtain business favors.

Documents showing the vote results by lawmakers on key bills previously vetoed are seen during a National Assembly session at the National Assembly in Yeouido, western Seoul, on April 17. [NEWS1]

The investigation targets the 20th presidential election and primary, the 8th local elections, the 2022 by-elections and the 22nd National Assembly elections.

Choi had vetoed this bill on March 14, citing constitutional concerns.

“The bill violated key principles such as clarity, proportionality, due process and separation of powers,” Choi said, using similar reasoning used for the vetoes of the other special counsel bills.

The third bill, a revision to the Commercial Act, also failed in the re-vote, receiving 196 votes in favor, 98 against, one abstention, and four invalid ballots.

Self-proclaimed political broker Myung Tae-kyun leaves the Changwon District Court in South Gyeongsang after attending an arrest warrant hearing on Nov. 14, 2024. [NEWS1]

The bill, passed last month in the plenary session of the National Assembly by the opposition-led legislature, would have expanded corporate directors’ fiduciary duties from just the company to also include shareholders. This provision would have applied to more than one million legal entities across the country.

Acting President Han Duck-soo vetoed the bill on April 1.

“Directors will face uncertainty regarding civil and criminal liability in all aspects of corporate management decision-making, which will hinder active management activities and have a negative impact on the national economy,” Han said at the time.

Acting President Han Duck-soo speaks during a meeting at the government complex in Jongno District, central Seoul on April 17. [NEWS1]

“It’s important to minimize side effects by finding alternatives through deeper discussion,” Han added. “The government would instead propose an amendment to the Capital Markets Act requiring listed company boards to prioritize shareholder interests during key corporate actions such as mergers.”

“As the practice of protecting general shareholders and improving corporate governance becomes established, especially for listed companies, and related case law accumulates, it would be more realistic to gradually expand the scope of application,” Han said.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

BY CHO MUN-GYU [[email protected]]