ISTANBUL

South Korea's National Assembly on Friday passed a bill to eliminate the prosecution office and restructure the Finance Ministry as well as other government branches, according to the Yonhap News Agency.

Under amendments to the Government Organization Act, two new offices will be established to handle investigation and indictment processes instead of the prosecution office, which will be shut down next year, 78 years after it was established in 1948.

The bill, introduced by the ruling Democratic Party, passed during a plenary session with 174 votes in favor, one in opposition and five abstentions, and is the first such bill under President Lee Jae Myung’s administration, which came to power in a snap election in June.

The main opposition People Power Party boycotted the vote.

Under the new structure, a serious crimes investigation agency will be created under the Interior Ministry, while the indictment office will be under the purview of the Ministry of Justice.

The prosecution office has been accused of abusing its exclusive powers by conducting politically motivated investigations.

The law seeks to remove the Ministry of Economy and Finance’s authority over budget planning and instead establish a new budget management office under the prime minister’s office starting from January.

In addition, control over national energy policy, currently managed by the Ministry of Industry, will be transferred to the Environment Ministry.