The Democratic Party of Korea said it plans to discuss the special act on investment in the United States at the National Assembly in February.
Jeong Tae-ho, a Democratic Party lawmaker who serves as the ruling party secretary of the National Assembly's Planning and Finance Committee, met with reporters on the 27th after a party-government consultation at the National Assembly and said, "President Donald Trump announced an increase in automobile tariffs, and we understand that as urging swift passage of the special act on investment in the United States," adding, "The bill was introduced at the end of November last year, and December and January were a kind of cooling-off period. In normal terms, the review procedure for the special act will begin in February."
Jeong said, "Among today's party-government consultation agenda items with the Ministry of Economy and Finance is the government's request to place on the agenda by February and pass the special act on investment in the United States introduced by lawmaker Kim Byung-kee," adding, "Regardless of President Trump's announcement, our government and the National Assembly are following the normal process of reviewing the special act in February."
Jeong added, "The claim that the Korean National Assembly is deliberately delaying this law comes from not knowing the National Assembly's circumstances accurately," and "Before this announcement, there was no request through working-level or diplomatic channels to expedite passage of the law. I wonder why the announcement was made."
The Democratic Party drew a line against the National Assembly ratification demanded by the People Power Party. Democratic Party lawmaker Kim Young-jin said, "It clearly stipulates that South Korea and the United States will comply and proceed through their domestic laws," adding, "This is not a matter for ratification by the two countries' legislatures."
Floor spokesperson Kim Hyun-jung also met with reporters after the floor leaders' meeting this morning and said, "If the National Assembly ratifies it, Korea alone would end up being bound by the agreement," adding, "The other country did not ratify it and proceeded by executive order, so if only Korea ratifies it, the binding force under ratification would inevitably be stronger."
The ruling party's position is to review and quickly pass the five special acts on investment in the United States introduced at the National Assembly in February. Kim, the floor spokesperson, said, "As this is an item referred to the standing committee in line with the National Assembly schedule, bipartisan cooperation is needed to handle it as quickly as possible," adding, "We are seeking the opposition party's cooperation and responding accordingly."
Lawmaker Jeong Tae-ho also said, "Through consultations among the Planning and Finance Committee secretaries, we are proposing to hold full committee meetings in the first and third weeks of every month," adding, "If this proposal is followed, we can convene a full committee meeting in the first week of February to discuss the special act."