The Korean National Assembly's planned meeting on a special law for US investments was disrupted as the ruling and opposition parties blamed each other for delays in legislative proceedings.
On October 24, a scheduled National Assembly meeting for the special committee on US investment faced disruption as tensions escalated between the ruling Democratic Party and the opposition People’s Power Party. The Democratic Party intended to discuss the establishment of a subcommittee and bring forth the special law proposal, but the People’s Power Party blocked this meeting, citing the Democratic Party’s plans to gather for discussions on controversial judicial reform proposals. This led to an abrupt end to the meeting without any agenda items being considered. Consequently, both parties have engaged in blame-game tactics over the delay in the legislative process related to the US investment special law.
Democratic Party member Jeong Tae-ho, who serves as the committee's ruling party secretary, expressed strong dissatisfaction with the actions of the committee chair Kim Sang-hoon of the People’s Power Party, criticizing him for not allowing a vote on the proposal as requested. Jeong asserted that using a crucial piece of legislation as a political bargaining chip jeopardizes the country’s future and called for the operation of the special committee to be conducted independently of the domestic political crises. Furthermore, he claimed that neglecting to proceed with the legislative processes would be tantamount to a betrayal of national interests, reflecting the severity of the ongoing political strife.
In contrast, Kim Sang-hoon, the committee chair, voiced concerns over the handling of the meeting, indicating that extraordinary attention from the party leadership created discomfort regarding the negotiation of controversial agenda items. He criticized the Democratic Party for not acting swiftly enough on the urgent legislative matters, implying that their lack of urgency could undermine pro-business initiatives. The frustration was further emphasized by the People’s Power Party members, who called for a halt to what they termed 'parliamentary violence' until the special committee concludes its business by March 9. This ongoing political deadlock highlights the intensified power struggles within the Korean political landscape, complicating efforts to facilitate US investments.
