Seoul: The National Assembly has endorsed President Lee Jae Myung's nominee for prime minister, Kim Min-seok, despite a boycott by lawmakers from the main opposition People Power Party (PPP) over controversies related to his wealth and family. The confirmation motion was passed with a 173-3 vote, with three invalid ballots, during a plenary session held on Thursday.
According to Yonhap News Agency, the approval came 29 days after Kim, a four-term lawmaker of the ruling Democratic Party (DP), was nominated by President Lee. Members of the DP, which holds the parliamentary majority, and other minor parties participated in the vote, while PPP lawmakers abstained. Following his confirmation, Kim emphasized his commitment to "upholding the will of the people" and identified "overcoming the economic crisis" as his primary objective.
The PPP had criticized Kim as an unqualified candidate, questioning the source of his income due to discrepancies between his reported wealth and expenditures, as well as allegations concerning his son's college admissions and his own educational background at China's Tsinghua University. Despite these concerns, the DP proceeded with the confirmation process unilaterally.
In South Korea, the prime minister is the sole Cabinet position requiring parliamentary approval. During the session, the Assembly also approved a revision to the Commercial Act, expanding the fiduciary duty of corporate board members to all shareholders. The revision faced initial contention between rival parties over a rule limiting the largest shareholder's voting rights to 3 percent when selecting an auditor. However, an agreement was reached to proceed with the vote after amending the rule, resulting in 220 lawmakers in favor, 29 against, and 23 abstentions.
Additionally, a revision to the Martial Law Act, prohibiting military and police entry into the National Assembly during martial law, was passed in the session. This follows the Assembly's previous attempt to pass a similar bill in March, which was vetoed by former President Yoon Suk Yeol.