The South Korean Prime Minister engaged in discussions with key ruling Democratic Party (DP) lawmakers and the presidential chief of staff regarding a special bill concerning South Korea’s investment commitments to the United States and other pending matters. The meeting, held at the prime minister’s residence, followed an agreement between political parties to establish a special committee to address the investment bill amidst concerns over potential tariff increases by U.S. President Donald Trump. Prime Minister Kim Min-seok emphasized the importance of promptly enacting the bill to avoid delays in tariff negotiations.
Presidential chief of staff Kang Hoon-sik urged the National Assembly to expedite legislative processes for passing the special investment bill and other legislation related to public welfare. DP Representative Jung Chung-rae advocated for the swift approval of the bill to alleviate worries among South Korean businesses, highlighting the necessity for collaborative efforts among the government, DP, and the presidential office to support the Lee Jae Myung administration’s objectives.
In response to Trump’s recent threats of tariff hikes, South Korea’s commitment to invest $350 billion in the U.S. under a trade deal was discussed. The meeting also addressed plans to relax restrictions on late-night and early-morning delivery services for major discount store chains in South Korea. Representative Jung emphasized the importance of streamlining regulations on online delivery by large retailers to enhance public convenience and bolster the competitiveness of the local retail sector.
The Democratic Party proposed a bill to enable big-box store chains to conduct online operations 24/7 for overnight delivery services, aiming to establish mutually beneficial measures for both offline stores and online platforms. However, labor groups have expressed opposition to the bill, citing concerns over increased nighttime work hours.
