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DP brings bill on mandatory treasury share cancellation to floor, triggering PPP filibuster

Published: 24 Feb. 2026, 18:07

Rep. Yoon Han-hong of the People Power Party begins a filibuster on the third revision to the Commercial Act after the bill reaches the floor of the National Assembly in Yeouido, western Seoul, on Feb. 24. [YONHAP]

The Democratic Party (DP) on Tuesday introduced an additional amendment to the Commercial Act aimed at requiring the cancellation of treasury shares, prompting the main opposition People Power Party (PPP) to launch a filibuster in protest.

The move came as President Lee Jae Myung and DP lawmakers last month shared a consensus on the need to swiftly push ahead with a bill that centers on a mandate requiring listed firms to sell holdings of their own shares, a measure widely expected to increase shareholder returns.

In response, PPP lawmakers launched a filibuster against the bill, arguing that domestic companies could be exposed to hostile takeover attempts.

The DP, which holds a parliamentary majority, plans to pass the bill after voting to end the filibuster.

Under the National Assembly Act, a filibuster can be stopped after 24 hours if at least three-fifths of all parliament members, or 180 lawmakers, vote in favor.

Yonhap