On the 14th, when the "joint fact sheet (joint fact sheet·joint explanatory materials)" containing the final agreements of the Korea-U.S. trade and security negotiations was released, political circles showed mixed reactions. The ruling Democratic Party of Korea particularly praised the approval to build a nuclear-powered submarine (nuclear sub). In contrast, the People Power Party pointed out that the fact sheet does not include specific implementation measures.
Jung Chung-rae, leader of the Democratic Party of Korea, welcomed the outcome at a field Supreme Council meeting held at the party's Busan City Chapter in Dong-gu, Busan, saying, "The Asia-Pacific Economic Cooperation (APEC) was also an unprecedented success, but the tariff negotiations were also very well conducted from the perspective of the national interest," adding, "It is solely because President Lee Jae-myung, with steadfast focus on the national interest, negotiated well with President Trump."
Chief spokesperson Park Soo-hyun said in a commentary, "This negotiation made clear the principle that only investments with proven commercial rationality will proceed, within a scope our economy can sufficiently bear. As a result, it completely dispelled groundless concerns and distrust about projects where recovery of principal would be difficult."
He went on, "We also achieved major progress in security and shipbuilding, including moving forward with the construction of nuclear-powered submarines, an essential strategic asset for peace and stability on the Korean Peninsula, expanding authority for uranium enrichment and spent nuclear fuel reprocessing, and institutional exploration to build U.S. Navy vessels domestically," and evaluated, "It is also a highly meaningful achievement that we declared a leading intent to defend the Korean Peninsula through the return of wartime operational control and continued stationing of U.S. Forces Korea, and drew strong support from the United States."
As the fact sheet, the product of the Korea-U.S. negotiations, has been released, the Democratic Party plans to swiftly push a special act on investment in the United States to back it up. The special act is intended to create an investment package fund of $350 billion (about 510 trillion won) for investment in the United States.
The People Power Party is demanding that the National Assembly go through a ratification consent process, saying it will require considerable fiscal resources, while the Democratic Party's position is that the fact sheet is not legally binding and that enacting a special law alone is sufficient. Chief spokesperson Park Soo-hyun told reporters, "With the fact sheet announced, the government will organize what will be included in the special law and, based on that, procedures to consult with the ruling party are expected to begin as early as the weekend."
The People Power Party acknowledged that the tariff negotiation settlement has eased economic uncertainty. However, it criticized that specific implementation measures, such as how to procure nuclear fuel related to nuclear-powered submarines, are not specified.
People Power Party leader Jang Dong-hyeok said at an on-site meeting condemning the decision to drop the appeal in the Daejang-dong development corruption case, "From the standpoint of easing uncertainty in our economy, we assess it positively," but added, "It falls far short of dispelling public suspicion. It was nothing more, nothing less than a black-box negotiation." He also criticized it as a "blank sheet," saying, "It was an empty announcement that even gives the impression it was hurriedly prepared to cover up the Daejang-dong allegations."
Regarding the $350 billion investment in the United States, Jang said, "There is not a single word of explanation about how to procure $20 billion a year, how to prevent damage to foreign exchange reserves, or what safeguards exist in the event of investment losses."
He continued, "As for introducing nuclear subs, there is no specific content other than that the United States approved their construction. The government is explaining it as if it demanded and pushed through domestic construction, but the agreement on a domestic construction site is not included in the fact sheet," urging, "The government must clearly present a feasible plan centered on domestic construction."
Regarding the inclusion in the fact sheet of eliminating non-tariff barriers in agri-food trade, streamlining approval procedures for U.S. agricultural products, and establishing a dedicated desk for U.S. fruits and vegetables, it also argued, "The government has denied that the tariff negotiations are unrelated to opening agricultural and livestock markets, but this document effectively overturns that explanation."
Pointed criticism also continued at the full session of the National Assembly's Foreign Affairs and Unification Committee held that day.
Kim Geon, a lawmaker "who is a former diplomat," noted, "Looking at the original U.S. fact sheet, it only says 'close coordination with Korea' regarding fuel supply. There is no promise such as that the United States will provide fuel." He went on to say about uranium enrichment and spent fuel reprocessing, "It is written not that the United States 'supports it,' but that it 'supports the procedures.' Doesn't that mean there is one more step (before actual implementation)?" adding, "It falls short of the level of agreeing to revise the Korea-U.S. nuclear cooperation agreement."