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Nat’l Assembly Passes Bill to Boost Semiconductor Industry

Seoul: Nat'l Assembly passes special bill on supporting semiconductor industry. An exception to the 52-hour workweek, a key point of contention between the ruling and opposition parties, was not included in the bill, despite industry calls to exempt semiconductor researchers from the limit when extended hours are needed.

According to Yonhap News Agency, the bill's passage comes as major chipmakers Samsung Electronics Co. and SK hynix Inc. posted record earnings last year, buoyed by strong demand for chips that power artificial intelligence. SK hynix is building new chip production lines in Yongin, about 50 kilometers south of Seoul, and Samsung Electronics also plans to construct new fabrication lines in the same area, moves that are expected to turn Yongin into the nation's major semiconductor cluster.

During the session, the National Assembly also passed a revision to the Public Holidays Act restoring Constitution Day as a public holiday. Observed annually on July 17, Constitution Day had been designated as a public holiday until it was reclassified as a commemorative day in 2008, after which government offices and businesses no longer closed for the occasion.

The parliament also passed a revision to the Assembly and Demonstration Act allowing rallies near the presidential residence and other top officials' residences as long as they do not expand into large-scale demonstrations or interfere with official duties.

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