Essential economic bills

Incumbent lawmakers should do their duty until end of terms

The Korea Chamber of Commerce and Industry has called for the 20th National Assembly to pass essential economic bills before its term of office ends. on Monday, the KCCI delivered 11 amendment bills to the floor leaders of the ruling and opposition parties and asked for them to be enacted by all means possible. Nine of the 11 proposals are related to overcoming the economic shock caused by the COVID-19 pandemic, and the other two are politically non-controversial, the KCCI said. If these bills fail to win approval by the incumbent Assembly, they will be scrapped automatically. The newly formed 21st Assembly can resubmit and discuss these bills ― in theory. As most of them are interlinked to ongoing economic events, however, the chances are high that they will go up in smoke the next time around.

It was rather unusual for a business association to ask for the swift handling of law bills, indicating how dire the situation facing Corporate Korea is. The KCCI emphasized that the passage of the bills was essential in getting over the COVID-19 crisis and revitalizing the national economy. For instance, the amendment to the Medical Service Act calls for permitting telemedicine between physicians and patients on a limited basis. The efficiency and convenience of remote diagnosis and prescriptions have already been confirmed amid the ongoing pandemic. Major countries, including the U.S. and Japan, have also been making the most of the system. The amendment has been proposed since the 17th Assembly but has remained stranded in parliament.

The 20th Assembly's term of office finishes at the end of this month. The KCCI-requested bills are direly needed to jumpstart the moribund economy. As they deal with bread-and-butter issues, they leave little room for political controversy. That explains why both the ruling and opposition parties agreed on the need for these amendments. Incumbent lawmakers should look into them with a more positive and forward-looking attitude. Unless they help to create an environment where businesses can move more freely, economic recovery will remain a distant dream. Legislators should remember the first step in that direction is to overhaul these laws and regulations.