Democratic Party Forms Special Committee for $3.5 Trillion US Investment Bill: Who’s In?
Daniel Kim Views
The special committee, which passed the National Assembly the previous day, consists of 16 members from the Committee on Political Affairs, the Committee on Finance and Economy, and the Committee on Industry, Trade, and Small and Medium Enterprises.
The Democratic Party primarily selected members from the Finance Committee. Secretary Jeong Tae-ho will serve alongside lawmakers Jin Sung-joon, Jeong Il-young, and An Do-geol. From the Political Affairs Committee, lawmakers Heo Young and Kim Hyun-jeong were chosen, while the Industry Committee is represented by lawmakers Jeong Jin-wook and Park Ji-hye.
The People Power Party completed its appointments the day before, naming seven members including the committee chair. Kim Sang-hoon, a member of the Political Affairs Committee, was appointed as chair. Other members include lawmakers Park Sung-hoon and Park Soo-young from the Finance Committee, Kang Min-guk and Kang Myung-gu from the Political Affairs Committee, and Kang Seung-kyu and Park Sang-woong from the Industry Committee.
The special committee will operate until September 9th, reviewing eight bills that encompass a total investment of 350 billion USD (approximately 466.67 trillion KRW), the establishment of a Korea-U.S. Strategic Investment Fund, and the temporary creation of the Korea-U.S. Strategic Investment Corporation.
Earlier, the two countries agreed to invest 200 billion USD (approximately 266.67 trillion KRW) in strategic industries such as shipbuilding, energy, and semiconductors. They also signed a memorandum of understanding (MOU) that includes approval for 150 billion USD (approximately 200 trillion KRW) in investments in the shipbuilding sector.
Most Commented