Ruling Party: 'Special Act on Investment in the United States Will Be Top Priority in November'... Follow-up Support After United States–Korea Tariff Negotiations

[Financial News] On the 5th, the Democratic Party of Korea (DPK) announced its intention to swiftly review and prioritize the passage of the Special Act on Investment in the United States within the National Assembly of the Republic of Korea this month to support the implementation of the United States–Korea Tariff Negotiations.
At the Supreme Council meeting held at the National Assembly of the Republic of Korea, Kim Byung-kee, floor leader of the DPK, stated, "Once the fact sheet (a joint explanatory document summarizing the bilateral agreement) is finalized, the National Assembly of the Republic of Korea will promptly fulfill its responsibilities." He added, "We will make the Special Act on Investment in the United States, which the government is preparing, our top priority for passage in November."
Kim emphasized, "We will ensure that the success of the APEC 2025 Korea (APEC) summit in Gyeongju becomes an achievement for all citizens." He continued, "This was an accomplishment achieved amid crisis. It was the power of pragmatic diplomacy focused on national interests, producing the best results even in the worst situations."
He further noted, "Now, the ball is in the court of the National Assembly of the Republic of Korea. The DPK will support the government’s diplomatic achievements with institutional and budgetary measures, centering on the party’s special committee." He pledged, "We will do our utmost to ensure that the results of this APEC summit translate into industry, jobs, and improvements in people’s lives."
On this day, the DPK established a provisional 'Committee for Supporting the Outcomes of APEC and Follow-up Measures for the United States–Korea Tariff Negotiations.' Kim Byung-kee was appointed as the committee chair.
It is interpreted that the party leadership is directly leading the committee to more effectively support the government’s diplomatic achievements, including the conclusion of the United States–Korea Tariff Negotiations.
Meanwhile, while the DPK insists on promptly passing the so-called 'Special Act on Investment in the United States,' the People Power Party maintains that the process must go through ratification by the National Assembly of the Republic of Korea, highlighting a difference of opinion.
In response, Chief Spokesperson Park said, "The government’s fact sheet (an explanatory document listing the details of the bilateral agreement) has not yet been submitted, nor have the matters requiring cooperation from the National Assembly of the Republic of Korea." He added, "We will maintain our previous position on this matter."
Previously, on October 31, Chief Spokesperson Park stated, "Once the DPK organizes the matters requiring cooperation from the National Assembly of the Republic of Korea, the party, government, and Office of the President of South Korea will coordinate closely and strive to engage in discussions with the opposition as well."
cjk@fnnews.com Choi Jong-geun, Kim Hyung-gu Reporter