South Korean Prime Minister Kim Min-seok is scheduled to meet with key ruling Democratic Party (DP) lawmakers and the presidential chief of staff later on Sunday to address a special bill concerning South Korea’s investment commitments to the United States and other pending matters. The meeting, planned for 5 pm at the prime minister’s residence, follows an agreement between rival political parties to form a special committee to handle the investment bill amid concerns over potential tariff increases by US President Donald Trump. Participants in the meeting will include Prime Minister Kim Min-seok, President Lee Jae Myung’s chief of staff Kang Hoon-sik, DP’s chief Rep. Jung Chung-rae, and presidential secretary for political affairs Hong Ik-pyo.
They are expected to discuss the outcomes of a recent visit to the US by key trade officials regarding Trump’s tariff policies and deliberate on the DP’s strategy to pass the special investment bill. Trump had previously threatened to raise tariffs on South Korea if the parliamentary process delayed the bill’s passage. As part of a trade agreement, South Korea has committed to investing USD 350 billion in the US, leading to reciprocal tariff adjustments between the two countries. The participants are also likely to address the government and DP’s efforts to relax restrictions on overnight delivery services for the country’s major discount store chains. The DP had proposed a bill to allow big-box store chains to operate online businesses 24/7 for enhanced delivery services, aiming for a balanced approach benefiting both offline and online retail platforms, despite opposition from labor groups concerned about increased nighttime work hours.
