The ruling party said, "The Democratic Party of Korea is burdened by the industry'"Protecting Shareholders by Revising Capital Markets Act"

The People's Power said that the industry is strongly opposed to the revision of the commercial law pushed by the Democratic Party, stressing that the purpose of protecting minority shareholders, which the Democratic Party claims, can be achieved through the revision of the Capital Market Act.

Kim Sang-hoon, chairman of the policy committee, told reporters after the floor meeting that the Democratic Party's amendment to the Commercial Act, which calls for strengthening corporate directors' responsibilities to shareholders, will be applied without regard to listed and unlisted companies, which will put a lot of pressure on the industry.

He then explained that considering the aftermath of the obligation to protect and fairness that the interests of all shareholders should be treated fairly, it would be better to propose an alternative as a capital market law that can only be applied to listed corporations.

Rep. Park Soo-young, secretary of the ruling party of the committee, also pointed out that it is good to extend directors' duty of loyalty to minority shareholders, but there is a high risk of management rights and outflow of the government due to regular lawsuits by minority shareholders and attacks by foreign funds.