Service Industry Development Bill Excludes Health Care; Passage Within the Year Under Review
The Basic Act on Service Industry Development will be reintroduced in the National Assembly with the health care sector excluded from its scope. 22It was submitted to a subcommittee of the Finance and Economy Committee on 3month17day and completed the expert review. The possibility of passage within the year is being discussed if deliberations resume after the formation of the committee.
The Basic Act on Service Industry Development will be pursued again in the National Assembly with the health care sector excluded. 22As a result, the possibility of passage within the year has also been mentioned.
The bill’s long-term stagnation in the past amid controversy over the privatization of medical care is the backdrop to its reintroduction this time.
7According to the government and the National Assembly, the bill was submitted on 3month17day to the Economic and Finance Subcommittee under the Finance and Economy Planning Committee and has completed the expert review. Once the subcommittee convenes, it is scheduled to conduct a review article by article.
The bill is a framework law aimed at systematically fostering the service industry. It includes provisions for the government to establish a 5-year basic plan and annual implementation plans.
The core structure is for the Service Industry Development Committee or the Service Industry Advancement Committee, with relevant ministries participating to deliberate and coordinate major policies.
The bill includes provisions to promote research and development in the service sector, train specialized personnel, select priority development areas, support startups, provide tax and financial support, support service exports, and designate specialized research centers.
Deputy Prime Minister for Economic Affairs and Minister of Finance and Economy Koo Yoon-cheol identified semiconductors, AI data centers, and physical AI as 3mega projects, presenting the enhancement of the service industry's competitiveness as the next task. He explained that the service sector accounts for % of gross domestic product (GDP).60 of gross domestic product (GDP).
Based on the fact that the biggest point of contention has been substantially eased by excluding health and medical care from the scope of application in the bills proposed by both the ruling and opposition parties, observers say the bills could be passed within the year if parliamentary discussions begin in earnest after the formation of the National Assembly's committees.
Sources: 뉴시스 경제
Bullstory synthesized this report from the linked sources. AI may have assisted the writing process. Check the original reports for factual confirmation.