President Lee Jae-myung Won't Pursue 'Trial Suspension Law'

The Democratic Party leadership has effectively halted discussions on the 'Trial Suspension Law,' which aimed to suspend President Lee Jae-myung's legal proceedings.

The Democratic Party leadership decided to shelve the bill at a recent meeting. Park Soo-hyun, the chief spokesperson, stated, 'It has been decided not to pursue the National Stability Law (Trial Suspension Law).' The party leadership determined that further review of the bill's legal issues was necessary.

The Presidential Office expressed a cautious stance regarding the Democratic Party's decision. An official from the Presidential Office stated, 'The Presidential Office's existing position was that the necessity of the bill was not recognized.' However, they refrained from providing specific comments on the decision.

When asked whether President Lee Jae-myung's intentions were reflected in the Democratic Party's decision to suspend the 'Trial Suspension Law,' Presidential Office spokesperson Kang Yu-jung did not provide a specific answer. However, some within the Presidential Office believe that the decision was an inevitable choice to minimize public division and promote political stability.

Presidential Chief of Staff Kang Hoon-shik commented, 'There is a prevailing view in constitutional legal circles that criminal proceedings against an incumbent president should be suspended in accordance with Article 84 of the Constitution.' He explained that the decision was the result of comprehensively considering various opinions on constitutional provisions and legal interpretations. The Presidential Office plans to continue discussing related issues with legal experts to clarify its position.

Meanwhile, the National Assembly's review of the Lee Jae-myung administration's first budget proposal is set to begin in earnest. The government submitted a budget proposal of 728 trillion won for the next year, an 8% increase from this year's budget. The budget focuses on economic revitalization and stabilizing people's livelihoods, with a particular emphasis on expanding investment in high-tech industries and strengthening the social safety net.

President Lee Jae-myung is scheduled to deliver a policy speech on the government's budget proposal for the next year at the National Assembly tomorrow (4th). The speech is expected to provide a detailed explanation of the government's specific plans and policy directions for the 728 trillion won budget. President Lee is expected to seek the cooperation of the National Assembly and emphasize the necessity of the budget.

The National Assembly's Budget and Accounts Committee plans to hold a public hearing on the budget review on the 5th and conduct comprehensive policy inquiries on the 6th and 7th. Significant differences in positions among the parties are expected to emerge during the budget review process. In particular, fierce debate between the ruling and opposition parties is anticipated regarding welfare and research and development (R&D) budgets.

The National Pension Service recorded a provisional cumulative return of 8.22% by the end of August this year. In particular, domestic stock investments recorded a high return of 36.4% as of the end of August, contributing significantly to the overall return increase. The National Pension Service plans to continue expanding overseas and alternative investments to maintain stable returns in the future.

Ha Jung-woo, Senior Secretary for AI Future Planning at the Presidential Office, stated that Nvidia will make Korea a major hub for artificial intelligence industry transformation. This is interpreted as a positive assessment of Korea's high AI technology and development potential. The government plans to continue to implement active support policies to foster the AI industry.

The Special Prosecutor's team investigating alleged interference in the 2022 election announced that it had discovered circumstances in which former President Yoon Suk-yeol contacted former People Power Party floor leader Choo Kyung-ho to request cooperation on a specific matter. The special prosecutor's team will conduct further investigation into these circumstances. This investigation is being conducted as part of an effort to resolve suspicions from the past government and realize a fair society.

The Chinese government announced that it would extend the current visa-free entry permit measure for 45 countries, including South Korea and Japan, until December 31 of next year. In addition, Sweden has been newly added to the list of visa-free countries. This measure is expected to contribute to further vitalizing economic and cultural exchanges between Korea and China.