The National Assembly's Special Committee on U.S. Investment Legislation ended its second plenary session on January 24 after conducting only a public hearing, failing to form subcommittees or introduce bills as originally planned. Legislative discussions on the U.S. investment bill have stalled as ruling and opposition parties remain deadlocked over contentious judicial reform legislation.
The committee held a public hearing on the "Special Act for Korea-U.S. Strategic Investment Management" before adjourning. The ruling and opposition parties had initially planned to form subcommittees, introduce bills, and conduct alternative debates, but these efforts fell through. The opposition Democratic Party of Korea objected after the ruling party announced plans to push through plenary votes on contentious bills including judicial reform measures containing provisions on judicial distortion crimes and commercial law amendments.
Kim Sang-hoon, a People Power Party lawmaker serving as committee chair, said, "The People Power Party also recognizes the need to produce meaningful results and complete the legislative process in this committee." He added, "However, the Democratic Party's request to operate the committee normally regardless of plenary session matters is difficult to accommodate."
Kim expressed regret but emphasized the committee requires bipartisan cooperation, urging floor leaders from both parties to coordinate on subcommittee formation and bill review.
Jeong Tae-ho, a Democratic Party lawmaker serving as ruling party floor leader on the committee, said he was "taken aback" that previously agreed agenda items were not followed. He stated, "Handling the U.S. investment bill separately from political issues is the responsible approach. Swift legislation serves as crucial leverage in tariff negotiations. Failing to even form subcommittees or introduce bills amounts to dereliction of duty."
Park Soo-young, a People Power Party lawmaker serving as opposition floor leader, countered, "If this law is as important as the government and ruling party claim, shouldn't the bills they're trying to ram through the plenary be delayed instead?" He urged the ruling party to "halt the forced plenary votes to create conditions for expedited progress."
Ruling party committee members held a press conference criticizing the People Power Party for "abandoning national interests." They argued, "Processing the U.S. investment bill is not simply a matter of National Assembly operations—it involves Korea-U.S. trust and national trade and security interests." They warned that President Trump has already questioned Korea's sincerity in implementing bilateral agreements due to delays on the legislation, and that politically motivated delays could provide grounds for retaliatory tariffs under Super 301 and Section 232 of U.S. trade laws.
"Using the special bill as a political hostage is no different from holding the nation's future hostage," the ruling party members said. "The U.S. investment committee must operate separately from domestic political circumstances."
The People Power Party accused the government and ruling party of "choosing to save 'President Lee Jae-myung' over the Republic of Korea." Opposition committee members stated, "The People Power Party has consistently maintained that processing the U.S. investment bill is essential to maximize national interests." They accused the ruling party of "ignoring the opposition's bipartisan cooperation efforts on U.S. tariff issues while unilaterally pushing through unconstitutional 'judicial destruction laws' dubbed the 'Lee Jae-myung presidential rescue laws.'"
The opposition strongly urged the ruling party to "halt the National Assembly rampage, including processing the 'Lee Jae-myung presidential rescue laws,' at least until the committee's activities conclude on March 9, and show sincerity by matching the opposition's bipartisan cooperation efforts."