The National Assembly's special committee on investment in the United States, set up to pass follow-up legislation to the Korea-U.S. tariff negotiations, is on track. With the People Power Party agreeing to take part in the committee's work, the special law on investment in the United States is expected to pass the National Assembly on the 12th.
Yoo Sang-beom, senior deputy floor leader for operations of the People Power Party, told reporters at the National Assembly on the morning of the 4th that "at a broad level, we decided to proceed normally with the ongoing activities of the special committee on investment in the United States and the special committee on political reform."
Yoo, the senior deputy floor leader, said, "Given the attitude the United States is showing, if handling of the special law on investment in the United States, which we have prepared and promised, is delayed, corporations are very worried about the possibility of trade retaliation," adding, "From the perspective of removing uncertainty that the state has, in particular, after internal discussions that we need to resolve at least the instability related to the Korea-U.S. tariff agreement, we decided to proceed with the special committee on investment in the United States as normal."
Later, Yoo, the senior deputy floor leader, met with Cheon Jun-ho, senior deputy floor leader for operations of the Democratic Party of Korea, and agreed to handle the special law on investment in the United States at the National Assembly plenary session on the 12th. Cheon, the senior deputy floor leader, said, "I am grateful that the People Power Party agreed to the schedule for handling the special law as agreed between the ruling and opposition parties despite various circumstances," adding, "People are anxious and worried because of various situations, but we will resolve economic uncertainty one by one."
The special committee on investment in the United States held a full meeting at the National Assembly that day, introduced the special law on investment in the United States, and also approved the plan to form the subcommittee on bills. The subcommittee on bills will be chaired by Democratic Party lawmaker Jung Tae-ho, with lawmakers Heo Yeong, Park Ji-hye, Park Su-young, Kang Myeong-gu, Park Sang-ung, and Cha Gyu-geun participating.
The special committee on investment in the United States plans to convene the subcommittee that afternoon and hold three meetings by the morning of the 9th, the deadline for the committee's activities. After that, the goal is to hold a full meeting on the afternoon of the 9th and handle the bill.