"Special Semiconductor Act to Strengthen K-Semiconductor Competitiveness Passes Cabinet Meeting"

Delegation of Presiding Authority During Filibusters, Amendment to the National Assembly Act Also Passed
Discussion Held on "Measures to Improve and Revitalize the Life-Sustaining Treatment Decision System"
Ministry Reports on Issues Including the End of the Temporary Suspension of Heavier Capital Gains Tax on Multi-Homeowners

The special semiconductor act, introduced to strengthen the capabilities of the semiconductor industry that President Lee Jaemyung has designated as a core national industry, has cleared the Cabinet meeting hurdle.

Yonhap News

On the 3rd, at a Cabinet meeting held at the Blue House and presided over by President Lee Jaemyung, the government deliberated and approved 18 promulgation bills, including the “Special Act on the Reinforcement of Competitiveness and Support for the Semiconductor Industry.” In addition, 10 draft presidential decrees were also passed by the Cabinet.

The special semiconductor act passed the National Assembly on January 29 through a bipartisan agreement. The special act includes provisions for establishing the “Special Committee on Reinforcement of Competitiveness for the Semiconductor Industry (Semiconductor Industry Special Committee)” under the President, designating “semiconductor clusters” and creating and supporting related infrastructure, expanding industrial bases such as power supply, water supply, and road networks, and introducing procedures for priority selection and exemption from preliminary feasibility studies.

The Semiconductor Industry Special Committee will be tasked with overseeing support measures that had previously been dispersed across individual projects and budgets, in order to strengthen semiconductor competitiveness. The government plans to prepare subordinate legislation and fully implement the special act in the third quarter of this year. However, the clause that would have granted an exception to the 52-hour workweek for semiconductor research and development (R&D) personnel was excluded during the National Assembly’s review process due to significant differences of opinion.

Following the special semiconductor act, an amendment to the National Assembly Act, which allows the Speaker of the National Assembly to delegate presiding authority to the Deputy Speakers and standing committee chairs if a filibuster is conducted during a plenary session, also passed the Cabinet meeting.

In addition, the Cabinet approved an amendment to the Military Court Act that transfers investigative authority over insurrection and treason cases from the Defense Counterintelligence Command to the military police, as well as an amendment to the “Framework Act on Science and Technology” that abolishes preliminary feasibility studies for large-scale new national R&D projects and introduces a pre-screening system instead. An amendment to the Enforcement Decree of the Passport Act, which raises the fee for issuing multiple passports by 2,000 won from the current 35,000 won in consideration of higher passport manufacturing costs, was also approved.

Meanwhile, the Cabinet meeting also held a discussion on the Ministry of Health and Welfare’s “Measures to Improve and Revitalize the Life-Sustaining Treatment Decision System.” Reports from ministries placed on the agenda included: measures for ending the temporary suspension of heavier capital gains tax on multi-homeowners and complementary measures (Ministry of Economy and Finance); measures for sternly cracking down on crimes that undermine livelihood stability (Supreme Prosecutors’ Office); measures to strengthen economic sanctions against illegal fishing operations by foreign vessels (Ministry of Oceans and Fisheries); the current status and plans for the “Just Giving” project (Ministry of Health and Welfare); and the outcomes of the “Hope 2026 Sharing Campaign” (Ministry of Health and Welfare).

This content was produced with the assistance of AI translation services.