Seoul: The National Assembly on Thursday endorsed President Lee Jae Myung's pick for prime minister, Kim Min-seok, despite a boycott from the main opposition People Power Party (PPP) over allegations concerning his wealth and family. The confirmation vote resulted in a 173-3 approval with three invalid ballots during the plenary session. This decision was reached 29 days after Lee nominated Kim, a four-term lawmaker from the ruling Democratic Party (DP), for the prime ministerial role.
According to Yonhap News Agency, only lawmakers from the Democratic Party and other minor parties participated in the voting process, as the DP holds a parliamentary majority. The role of prime minister in South Korea is unique in requiring parliamentary approval for the appointment. The DP had previously stated its intention to proceed with the confirmation unilaterally, even in the face of the PPP's demands for Kim's withdrawal, labeling him an unqualified nominee.
During the session, the Assembly also passed a revision of the Commercial Act aimed at expanding the fiduciary duty of corporate board members to all shareholders. Previously, the rival parties had clashed over a rule limiting the voting rights of a company's largest shareholder to 3 percent during auditor selection. However, they agreed to put the bill to a vote after amending the rule.
Additionally, a revision to the Martial Law Act, which seeks to ban the entry of military and police forces into the National Assembly, is anticipated to be proposed during the session.