President Moon Jae-in has appointed Kim Sang-jo as the new head of the Fair Trade Commission(FTC) despite objection from opposition parties.

Chief presidential press secretary Yoon Young-chan said on Tuesday during a news briefing that the president made the appointment because the nation cannot waste any more time when it has to set a new standard for economic democracy.

The top office submitted a request for Kim’s confirmation hearing to the National Assembly on May 19th. A parliamentary hearing committee was supposed to adopt a report on Kim’s confirmation hearing by last Wednesday, but failed to do so due to protest by opposition camps.

The president asked the Assembly again to adopt the report by Monday and was again rejected.

Parliamentary approval is not required for the appointment of an FTC chief and the president can make the appointment on his authority when a report is not adopted even after making a request.