The National Assembly will open a July extraordinary session this week and begin deliberating key bills for the latter half of its term, including property tax reform. Although the People Power Party (PPP) has declared a full boycott in protest of the second-half committee reorganization, the Democratic Party of Korea and other pro-government forces have decided to open the Assembly first, judging that legislation of state agenda items can no longer be delayed. However, concerns are also emerging that a prolonged "half parliament" without the opposition could stall the mounting backlog of economic and livelihood legislation.
According to political sources on Saturday, the Assembly will convene the July extraordinary session starting Wednesday. The goal is to proceed with Assembly operations centered on the pro-government bloc despite the PPP's noncooperation. Lee Ju-hee, Democratic Party floor spokesperson, said in a written briefing that day, "We can no longer wait for the People Power Party, which turns its back on people's livelihoods," adding, "We will begin the extraordinary session on the 6th and step up the processing of the accumulated livelihood and reform legislation." Earlier, Han Byung-do, acting Democratic Party leader and floor leader, said, "We will complete major legislative tasks by the end of the year."
The Democratic Party's top priority is real estate. With the government set to announce a property tax reform plan later this month, the party intends to move quickly on discussions to fine-tune the policy. The Democratic Party has decided to hold party-government consultations once a week to speed up legislation. The government is reportedly reviewing a reform plan that would protect owner-occupied homes while reducing tax benefits for multi-home owners and non-residential properties.
Follow-up legislation for the "three mega projects" recently announced by the government is also urgent. For semiconductor investments by Samsung Electronics and SK hynix to materialize, amendments to the Framework Act on Water Management and the Water Supply and Waterworks Installation Act are essential to secure a stable water supply. The Democratic Party has reportedly begun preparing amendments to laws for the rapid development of industrial complexes, as well as revisions to a mega special zone act for employees.
Persuading the opposition, which has launched a full boycott, is a hurdle that must be overcome. The People Power Party is strongly protesting, submitting resignation letters from all its members as standing committee members after the Democratic Party ultimately took the chairmanship of the Legislation and Judiciary Committee, which had been a core point of contention. For property-related legislation to gain speed, convening the Assembly's Land, Infrastructure and Transport Committee is essential, but the committee's chairmanship is currently allocated to the People Power Party. A response is needed given that, without the opposition's cooperation, state agenda items such as real estate will be difficult to advance.
Discussions on abolishing the prosecution's supplementary investigation authority are also expected to gain momentum in earnest. Voices within the party arguing that this task should be handled as a top priority are gaining strength, with former Democratic Party leader Chung Chung-rae, a contender for the party leadership, raising the complete abolition of supplementary investigation authority as a core agenda item. The Legislation and Judiciary Committee, the relevant standing committee, held its first plenary meeting on the 2nd without the People Power Party, setting things in motion.
In addition, various economic and livelihood bills, including the Online Platform Act, the Digital Asset Basic Act, and replacement legislation for the crime of breach of trust, are also top priorities. A pro-government official said, "Legislative tasks that are at a critical juncture must not be delayed."
