Seoul: The National Assembly was set to vote on Prime Minister nominee Kim Min-seok on Thursday amid objections from the main opposition over allegations surrounding his wealth and family. The ruling Democratic Party (DP), which currently holds a parliamentary majority with 167 out of 298 seats, can single-handedly pass Kim's motion without the support of the main opposition People Power Party (PPP).
According to Yonhap News Agency, a plenary session is scheduled for 2 p.m. to confirm Kim as the country's No. 2 official. In South Korea, the prime minister is the only Cabinet post that requires parliamentary approval. The DP has said it will push ahead with the confirmation unilaterally even if the PPP disagrees, while the PPP has demanded Kim's withdrawal, calling him an unqualified nominee.
At the session, the Assembly is also expected to review a revision of the Commercial Act that would expand the fiduciary duty of corporate board members to all shareholders. The rival parties had clashed over the rule that would limit the voting rights of the largest shareholder in a company to 3 percent when an auditor is being selected but agreed Wednesday to put the bill to a vote after making amendments to the rule.
A revision to the Martial Law Act that bans military and police entry into the National Assembly is also expected to be proposed during the session.