The rival parties showed an unexpected shift in stance over abolishing the crime of breach of trust, a long-standing demand of the business community. The Democratic Party, which had been reluctant to ease the offense, proposed placing the abolition of breach of trust under the Commercial Act on the agenda of this year's regular session and handling it. The People Power Party strongly opposed the "abolition of breach of trust under the Criminal Act," calling it "a law to save President Lee Jae-myung."
Kim Byung-ki, the Democratic Party floor leader, said at a floor countermeasures meeting at the National Assembly on the 23rd, "Abolishing the crime of breach of trust is a task of the times to restore the people's livelihood and economy and normalize corporate activity," proposing, "If you agree to abolish the offense, let's put it on the agenda of the livelihood economy consultative body and handle it swiftly within the regular session." He added, "The Democratic Party promised the public to make Korea a country where it is good to do business, and to keep that promise, after deep discussion and deliberation, we decided to abolish the crime of breach of trust."
Heo Young, the senior deputy floor leader, also kept up the offensive against the People Power Party. Citing that some People Power Party lawmakers had introduced bills to ease the offense, he said, "Did the People Power Party also introduce the bill to acquit President Lee Jae-myung?" and criticized, "While ignoring the reality in which countless innocent people had to stand trial because of ambiguous legal provisions, they only chant for tarnishing the president."
The People Power Party made clear its position that abolishing the crime of breach of trust under the Criminal Act is unacceptable, taking direct aim at the Democratic Party's "saving Lee Jae-myung."
Kim Do-eup, the party's policy chief, argued it was "a law to save Lee Jae-myung, intended to wipe out altogether the Daejang-dong trial of defendant Lee Jae-myung and others, which has been halted." He added, "To now say we should abolish the crime of breach of trust is no different from saying we will effectively exempt the duty of loyalty to the company," stressing, "It is a self-contradiction that flatly overturns the purpose of amending the Commercial Act and completely denies the rationale of protecting retail investors."
Kim also said, "If the crime of breach of trust is abolished, first, it means we will exempt acts that harm the company, which will break down management transparency," pointing out, "If corporations are shaken, the first to suffer will be workers, and jobs will be threatened." He raised his voice, saying, "Abolishing the crime of breach of trust is a perilous idea that saves defendant Lee Jae-myung while shifting the damage onto workers and retail investors."
The opposition camp questions the Democratic Party's forward-leaning attitude toward "breach of trust." They say that behind the Democratic Party's sudden pivot to abolishing the offense—after it had maintained positions tightening the screws on corporations, such as the "yellow envelope law" and strengthening the Serious Accidents Punishment Act—lies an intent to have the president acquitted in the trial over breach of trust charges related to the Daejang-dong development project.
Along with abolishing the crime of breach of trust, the two parties are expected to enter negotiations for the regular session by placing the yellow envelope law and improvements to the Serious Accidents Punishment Act as key agenda items of the ruling-opposition livelihood economy consultative body. However, as stark differences emerge on each core agenda item, the prospects for a deal are uncertain.