Seoul: The ruling Democratic Party (DP) and the government have reached an agreement to pursue the abolition of the breach of trust charge in criminal law. This decision aims to alleviate the burdens on companies’ abilities to make routine business decisions, as stated by the DP.

According to Yonhap News Agency, DP floor leader Kim Byung-ki revealed the initiative during a task force meeting focused on rationalizing economic penalties. The meeting also included the finance and justice ministers and other senior officials.

Kim emphasized that the Democratic Party and the government are committed to abolishing the breach of trust charge. The move to rationalize civil liability for economic crimes is intended to safeguard public rights and support the livelihood economy.

He further explained that the current system’s excessive economic penalties have led to the criminalization of typical business decisions, which negatively impacts company management and investment. Kim assured that efforts would be made to enhance the system to ensure that serious crimes continue to be appropriately punished.