Acting President Han Duck-soo at the Center of Commercial Act Amendment Controversy

As the deadline for the government's veto on the Democratic Party's Commercial Act amendment nears, all eyes are on Acting President Han Duck-soo. The decision, potentially to be made at the April 1 Cabinet meeting, is seen as pivotal for capital market reform.

Divisions Deepen Over Amendment's Impact

The amendment aims to extend directors' fiduciary duties to shareholders, protecting minority rights and addressing the "Korea discount." However, it has sparked debate among financial authorities, with FSS Governor Lee Bok-hyun opposing the veto, fearing it could stall shareholder protection efforts.

Business Community and Political Circles Weigh In

Leaders from major economic organizations have urged a veto, warning of increased management uncertainty and activist fund threats. Meanwhile, the Democratic Party threatens stronger measures if the veto is exercised, including proposals for cumulative voting and separate audit committee elections.

Decision Timeline and Potential Fallout

With the deadline set for April 5, the government's stance remains unclear. A veto could lead to political upheaval, including renewed impeachment threats against Prime Minister Han, highlighting the high-stakes environment surrounding this decision.