The Democratic Party of Korea is pressuring the People Power Party by raising the possibility of requesting the National Assembly Speaker to directly table the "Special Act on US Investment," a follow-up measure to Korea-US tariff negotiations. The Democrats are pursuing legislation with post-investment reporting to the National Assembly as the default approach, rather than requiring prior approval.
As bill processing has stalled repeatedly with the People Power Party countering the Democrats' forced passage of three judicial reform bills through filibuster, hardline voices within the ruling party are emerging, saying they "will use any means necessary."
Officials from the Ministry of Trade, Industry and Energy and Democratic lawmakers on the National Assembly's Trade, Industry, Energy, SMEs and Startups Committee held a party-government consultation on the 26th to discuss how to process the US Investment Special Act. Rep. Kim Won-i, the Democratic whip on the committee, told reporters after the meeting: "We reached consensus that the US Investment Special Act must be processed swiftly. In my personal view, given this is an economic war and national crisis, I believe the National Assembly Speaker should decide to directly table it for a plenary vote."
The remarks are interpreted as the Democrats signaling the possibility of unilateral passage as the special committee continues to falter. With the People Power Party showing a passive attitude toward committee discussions in protest of the Democrats' forced passage of judicial reform bills, calls are growing within Democratic floor leadership for the Speaker to exercise authority to table the bill directly for plenary session. Article 85, Paragraph 3 of the National Assembly Act stipulates that if committee review is delayed without reason, the Speaker may refer the matter to another committee or bring it directly to plenary session.
Democratic Policy Committee Chair Han Jung-ae said at a policy coordination meeting: "Despite 18 days since the special committee was formed, agenda items cannot even be tabled due to obstruction by the People Power Party. Processing the special act is a matter of Korea-US trust and trade security. Delays could increase uncertainty for domestic companies and weaken national capabilities."
Democratic floor spokesperson Kim Hyun-jung also urged cooperation from the People Power Party, stating: "We are making maximum efforts for bipartisan agreement, but if agreement cannot be reached, the Democratic Party will have no choice but to use all means and methods available to pass it."
The key issue for the US Investment Special Act is the level of National Assembly involvement. Among Democratic lawmakers on the special committee, "post-investment reporting" is being prominently discussed to increase investment flexibility and speed. However, as some argue prior National Assembly approval is necessary, the party plans to narrow differences through further discussions.
One Democratic lawmaker on the special committee explained: "The most likely direction is to make post-investment reporting the principle while establishing safeguards for risk management to ensure commercial rationality." Another lawmaker said: "We are considering supplementary measures such as reporting to the National Assembly after investment, while adding prior review procedures for sectors deemed high-risk."
The bipartisan special committee is set to conclude its activities on March 9. However, discussions have not even begun as the two parties have failed to agree on forming a subcommittee for bill review. The People Power Party maintains it cannot cooperate with special committee operations while the Democrats force through contentious bills in plenary sessions.