The National Assembly’s impeachment of Park Geun-hye will be “the death knell” of her conservative economic proposals, including public services’ privatization

The National Assembly’s impeachment of Park Geun-hye will be “the death knell” of her conservative economic proposals, including public services’ privatization. “One such example is the Basic Act on the Development of the Service Industry, which would provide a legal basis for financial support and deregulation in the service sector. The bill has failed to pass through the parliamentary committee for the past four years since it was submitted, due to discord with the opposition, which claimed it also applies to fields that have largely remained on a public level, such as medicine and education. They say the bill would pave the way for the privatization of medical services, which would result in a surge in medical costs. The government has refused to budge.”