Aug. 14 (UPI) -- The South Korean government will hold a special event Friday to commemorate President Lee Jae Myung's recent election, coinciding with the 80th anniversary of Liberation Day from Japan's 1910-1945 colonial rule.
The ceremony will be held because Lee did not have a formal inauguration. He assumed office immediately after winning the June 3 election, which was triggered by the impeachment of former President Yoon Suk-yeol over his declaration of martial law last December.
In his first two months in office, Lee has introduced a range of economic and legal policies, which could influence the decisions of foreign investors. So far, reactions have been mixed.
One of the most contentious issues is the so-called Yellow Envelope Act, intended to safeguard subcontracted workers, curb corporate lawsuits seeking damages from strikes and expand legal responsibility for executives who avoid collective bargaining.
Business associations have asked the National Assembly to reconsider its legislation, which would amend the Trade Union Act, warning that it could negatively affect the economy by emboldening already militant trade unions.
