The Democratic Party of Korea led the designation of three bills, including the Semiconductor Special Act, the Banking Act, and the Franchise Business Act, as fast-tracked items on the 17th.
On that day, the National Assembly held a plenary session, and the consent motion for the designation of these three bills as fast-tracked items was voted on anonymously by 258 participants. The results were: Semiconductor Special Act (180 in favor, 70 against, 3 abstentions, 5 non-votes), Banking Act (188 in favor, 69 against, 1 non-vote), Franchise Business Act (186 in favor, 67 against).
To designate a fast track, a favorable vote of more than two-thirds of the National Assembly members present (180 members) is required.
According to the National Assembly Act, if a bill is designated as a fast track, it is voted on in the plenary session within a maximum of 330 days after going through the standing committee for 180 days, the Legislation and Judiciary Committee for 90 days, and then being submitted to the plenary session for 60 days.
The Semiconductor Special Act, the Banking Act, and the Franchise Business Act designated as fast-tracked on that day were primarily pushed by the Democratic Party of Korea, while the People Power Party opposed the contentious bills.
The Semiconductor Special Act aims to increase state support to enhance the competitiveness of the semiconductor industry. The bill that was fast-tracked on that day excluded the exception clause for the 52-hour workweek that the People Power Party had demanded.
The Banking Act primarily stipulates that costs such as insurance premiums and contributions cannot be reflected in the bank's additional charges. The Franchise Business Act also includes provisions that guarantee the registration of franchisees' associations and their negotiation rights.