President Yoon Suk Yeol requested for the National Assembly to pass a bill aimed at extending a grace period on enforcement of the Serious Accidents Punishment Act, which from January 27 will expand to include businesses with fewer than 50 employees.

At Tuesday's Cabinet meeting, Yoon said that while protecting the safety of workers is important, punishment is not the best solution, emphasizing that more time should be allowed in consideration of the realistic situations faced by small- to medium-sized enterprises.

The president also called for parliamentary passage of a bill aimed at abolishing requirements for homebuyers to inhabit properties they purchase with a cap imposed on presale prices, saying such regulations have restricted people's freedom and have infringed upon property rights.

Yoon referred to a government bill set to be handled by the Cabinet aimed at revising the Framework Act on the Management of Charges to abolish or merge various illogically imposed charges, ordering the finance ministry to review all existing 91 charges.