Seoul, September 1, 2023
In a significant move towards political bipartisanship, the leader of South Korea’s ruling party, Han Dong-hoon, proposed the elimination of privileges for National Assembly members during a meeting with the leader of the main opposition party, Lee Jae-myung, on Friday.
The meeting, which took place at the National Assembly in Seoul, saw Han, the leader of the People Power Party, suggest that both parties work together to advance political reforms, including the abolition of certain financial investment taxes and prioritizing legislation aimed at addressing the country’s low birth rate.
Now is the best time to eliminate the privileges of National Assembly members, Han stated during the opening remarks of the meeting. He added that Lee had also previously expressed the need to restrict the immunity from arrest for assembly members, indicating a consensus between the two party leaders on the issue.
Han highlighted the current political stalemate, where bills are either forcibly processed by the Democratic Party or vetoed by the President, leading to a cycle of legislative gridlock. He proposed that both parties declare an end to political confrontation and agree on future-oriented political reforms.
Abolition of Financial Investment Tax and Targeted Welfare Policies
In his proposal, Han also suggested the abolition of the financial investment income tax, which he believes would encourage more wealth creation through capital market value enhancement policies. He argued that such a move would prevent the obstruction of business operations due to unreasonable inheritance tax systems.
We need to create more ‘wealth ladders’ through capital market policies while ensuring that business activities are not hindered by unfair inheritance taxes, Han explained.
He also addressed the Democratic Party’s initiative to provide a universal cash subsidy of 250,000 won (approximately 1324 Chinese yuan) to all citizens. Han argued that while the cash distribution policy was seen as a solution to livelihood issues, the available national tax revenue is limited. Therefore, it is essential to promote targeted welfare policies.
Prioritizing Legislation on Low Birth Rate and Medical Reform
Han emphasized the importance of addressing South Korea’s low birth rate, calling it a critical issue that needs to be prioritized. He proposed that both parties work together to pass legislation aimed at solving this demographic challenge.
Additionally, Han mentioned that medical reform is fundamentally a matter of public welfare. He committed to maintaining the momentum for medical reform and addressing the public’s concerns about the availability of healthcare services.
Eliminating the public’s anxiety about the lack of healthcare is a responsibility of the political arena, Han stated.
Bipartisan Commitment to Future Reforms
The meeting concluded with both leaders agreeing to establish a joint committee to discuss and implement promises related to public welfare. This move is seen as a positive step towards breaking the current political deadlock and fostering a more cooperative legislative environment.
The meeting between Han Dong-hoon and Lee Jae-myung is a significant development in South Korean politics, signaling a willingness among political leaders to work together on pressing national issues. As the country faces challenges such as a declining birth rate and economic disparities, the commitment to bipartisanship could pave the way for meaningful reforms.
Conclusion
The proposals put forth by Han Dong-hoon during the meeting with Lee Jae-myung represent a pivotal moment in South Korea’s political landscape. By focusing on eliminating privileges, reforming tax policies, and addressing critical social issues, the two parties may be able to overcome their differences and work towards a brighter future for the nation.
Views: 0