South Korea opposition parties expand Assembly dominance Asia News Network (ANN) is the leading regional alliance of news titles striving to bring the region closer, through an active sharing of editorial content on happenings in the region.
The opposition bloc won a landslide victory in the general election, but the ruling bloc managed to defend the 100-seat threshold that could otherwise have deprived President Yoon Suk Yeol of his veto power, a vote count showed on Thursday morning. As well as being a second victory in a row for the center-left, the vote outcome also indicated that the regional divide still stands in South Korean politics. Ballot coun.
The main opposition Democratic Party of Korea (DPK) recently indicated its intention to propose legislation similar to the U.S. Inflation Reduction Act (IRA), raising concerns that such a move would end up triggering conflicts with major trading partners, such as the U.S, Japan and the EU. “If Korea enacts a law similar to the U.S. IRA, it could be considered a violation of the WTO agreement on subsidies, although it remains uncertain whether the U.S., EU and Japan would point out the matter,” said Cheong In-kyo, professor of international trade at Inha University.