At a meeting with Lee Jae-myeong, leader of the Democratic Party of Korea, on the 16th, the American Chamber of Commerce in Korea (AmCham) expressed clear concerns about the implementation of the ‘Act on Testimony and Appraisal in the National Assembly’ (Act on Testimony and Appraisal in the National Assembly), which the Democratic Party passed alone at the National Assembly plenary session last month. Confirmed. The Democratic Party is known to have responded to the secretariat by saying, “We will comprehensively review the increase/decrease law.”
According to the Democratic Party and AMCHAM, AMCHAM said on this day, “For foreign companies, the principle is to go to the National Assembly when they request top-secret information about the company, but we are very worried that if secrets are leaked to Korea, the information may spread around the world.” An AMCHAM official said, “We clearly conveyed our position to the Democratic Party that we are concerned about the implementation of the Increase and Decrease Act.”
The domestic business community has also expressed concerns that when the amendment to the Increase and Decrease Act is implemented, major management information within companies will be constantly exposed to the risk of being leaked, as they will not be able to refuse requests for information corresponding to trade secrets and personal information as government audit data. On the 13th, immediately after his inauguration, the People Power Party’s new floor leader Kwon Seong-dong also defined six bills, including the Increase and Decrease Act, as ‘evil laws’ and emphasized the need to exercise the right to request reconsideration (veto).
The Democratic Party is said to have responded to these concerns from the Armed Forces by saying, “We will comprehensively review the increase/decrease law.” An AMCHAM official said, “The Democratic Party clearly expressed its pro-business voice by saying that it would reexamine the increase/decrease law.” A Democratic Party leadership official added, “We will look into regulations because there may be unexpected side effects once they are implemented.”
Cho Seung-rae, chief spokesperson of the Democratic Party, said, “There were some concerns (about the increase/decrease law in the AMCHAM), but it seems necessary to check whether it is groundless or whether it will become a reality.”
Donga Ilbo exclusive >
![[단독]Amcham met with Lee Jae-myeong and expressed concern that “when the increase/decrease law is implemented, confidential corporate information will be leaked”](https://dimg.donga.com/a/180/101/95/2/wps/NEWS/IMAGE/2024/12/17/130666928.1.jpg "[단독]Amcham met with Lee Jae-myeong and expressed concern that “when the increase/decrease law is implemented, confidential corporate information will be leaked”")
Colin Marshall Korea Blog
gibberish
cat eyes
Reporter Seungwoo Lee [email protected]
Reporter Lee Ji-woon [email protected]
-
- great
- 0dog
-
- I’m sad
- 0dog
-
- I’m angry
- 0dog