Opposition meets Koo Yun-cheol, says "Special Act on Investment in the United States needs hearings and inquiries first"

[Financial News] The People Power Party (PPP) said on the 4th that, in a meeting with Deputy Prime Minister for Economic Affairs and Minister of Finance and Economy Koo Yun-cheol, it stressed that a policy inquiry session and a legislative hearing at the Strategy and Finance Committee of the National Assembly of the Republic of Korea must come first before handling the "Korea–US Strategic Investment Management Special Act (Special Act on Investment in the United States)."
Lim Yi-ja, a PPP lawmaker who chairs the Strategy and Finance Committee, told reporters at the National Assembly before meeting Koo together with ruling and opposition floor secretaries of the committee, "We should first hold a policy inquiry session at the Strategy and Finance Committee, and since this is a new act, there must also be a legislative hearing," adding, "Only after that should we put the bill on the agenda and convene the subcommittee for bill review."
Earlier, US President Donald Trump had warned that he would raise tariffs back up to 25% if the Special Act on Investment in the United States was not passed promptly.
In response, the ruling Democratic Party of Korea announced it would push to pass the Special Act on Investment in the United States within this month. The PPP has maintained that the Korea–US tariff agreement requires ratification by the National Assembly, and argued that, given the Democratic Party's previously passive stance on deliberating the Special Act on Investment in the United States, a thorough review must now take place.

uknow@fnnews.com Kim Yun-ho Reporter