Nat'l Assembly passes motion to confirm Kim Min-seok as new PM amid PPP boycott

The parliament has approved the president's nomination of Kim Min-seok for the post of Prime Minister.

The approval was unilaterally pushed ahead by the ruling party amid a boycott by the main opposition party.

Our political correspondent Shin Ha-young reports.

Four-term lawmaker Kim Min-seok has finally been given the green light to take the post of prime minister, 29 days after being nominated by President Lee Jae Myung.

This comes after the National Assembly approved his appointment, on Thursday, to the only Cabinet post in South Korea that requires parliamentary approval.

Of the 179 votes cast, 173 lawmakers voted in favor, three voted against, and three ballots were invalid.

The ruling Democratic Party, which holds a majority in the 22nd National Assembly, pushed the motion through unilaterally amid a boycott by the main opposition People Power Party.

"Given the current crisis, it's a shame that the PPP continues to obstruct the process. If the confirmation of the Prime Minister, who is supposed to lead the Cabinet, is delayed any further, the public won't stand for it."

Ahead of the plenary session, the PPP demanded Kim's withdrawal, calling him an unqualified nominee, citing his failure to submit key documents, particularly those related to his wealth.

"There hasn't been a prime minister nominee with this many issues before. Once again, we urge President Lee Jae Myung it's not too late. Withdraw Kim Min-seok's nomination."

The Presidential Office welcomed the approval, saying that it paves the way for Prime Minister Kim to work closely with President Lee and help him run state affairs smoothly.

Meanwhile, despite the standoff over Kim's appointment, the parliament passed a revision of the Commercial Act during Thursday's plenary session, following an agreement reached the previous day.

Among 272 lawmakers present, 220 voted in favor, 29 voted against, and 23 abstained.

This was one of the contentious bills the two sides had been clashing over.

The DP had pushed a revision to the Act back in March, but it was vetoed by the previous administration.

The revision aims to add the word "shareholders" to the director's duties from just "company."

It also introduces the so-called "Three Percent Rule," which caps the voting rights of the largest shareholder and related parties at 3 percent when appointing audit committee members at listed companies.

The rule is intended to prevent undue influence and abuse of control by majority shareholders.

This marks the first passage of a bill related to the people's livelihoods and the first time the rival parties have reached a bipartisan agreement on legislation since President Lee took office.

Shin Ha-young, Arirang News.