Kim Min-seok's Prime Minister Nomination Approved by National Assembly

On July 3, 2025, the National Assembly approved the nomination of Kim Min-seok as Prime Minister. Members of the opposition party, People Power Party (국민의힘), who had called for the withdrawal of Kim's nomination and his resignation, boycotted the vote and did not attend the session. Only lawmakers from the ruling Democratic Party (더불어민주당), Justice Party (조국혁신당), and Progressive Party (진보당) participated in the voting. In a secret ballot, out of 179 present members, 173 voted in favor, 3 against, and 3 ballots were deemed invalid, resulting in the approval of Kim's nomination.

This decision comes 29 days after President Lee Jae-myung nominated Kim for the position on June 4. Once President Lee formally endorses the appointment, Kim will officially take office as Prime Minister.

After the session, Kim addressed reporters, stating, "I will uphold the will of the people as if it were the heavens, implement the President's direction from the ground up, and integrate the wisdom of lawmakers across party lines into governance. Overcoming the economic crisis created by oppressive forces is my top priority." He also expressed his intention to be a proactive Prime Minister, saying, "I will be a dawn Prime Minister who thinks ahead and takes initiative, ushering in an era of a great nation, a great government, and a great President."

Additionally, the National Assembly passed a revised Commercial Act, which had been agreed upon by both ruling and opposition parties. The amendment received 220 votes in favor, 29 against, and 23 abstentions from a total of 272 members present. Key changes in the revised act include adding shareholders to the duties of directors, introducing electronic shareholder meetings, implementing a 3% cap on voting rights for major shareholders in the appointment and dismissal of audit committee members, and changing outside directors of listed companies to independent directors.