An amendment to the Depositor Protection Act, which calls for raising the deposit protection limit from 50 million won to 100 million won, passed the National Assembly's Political Affairs Committee.
A revision to the Loan Business Act was also voted on to raise equity capital requirements for registration of the loan business and invalidate both principal and interest for antisocial illegal loan contracts that require sexual exploitation collection or interest rates exceeding 60%.
The two bills are expected to be processed at the plenary session on the 10th, as the ruling and opposition parties have agreed to deal with them within the regular session of the National Assembly.The Online Platform Act, which prohibits unfair trade practices on the
online platform, decided to hold a public hearing on the 18th and continue further discussions.
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