U.S. Investment Report to National Assembly Postponed From 17th... MOU and Project Announcement Also Likely Delayed
National Assembly Report Delayed Due to Negotiation Setbacks
The government's report on the US investment project, originally scheduled to take place at the National Assembly on September 17, has been postponed.
In the plenary session of the temporary National Assembly last March, the Special Act on Strategic Investment Management between Korea and the United States (Special Act on Investment in the US) was passed.
View original imageAccording to political sources on September 16, the Ministry of Trade, Industry and Energy postponed its detailed briefing on the US investment negotiation, which was scheduled for the following day, to the National Assembly Industry, Trade, Energy, SMEs and Startups Committee and the Strategy and Finance Committee.
An official from the National Assembly's Industry, Trade, Energy, SMEs and Startups Committee confirmed, "The briefing scheduled for the 17th has indeed been postponed." The official added, "There are reports that the Strategy and Finance Committee is considering rescheduling to the 22nd, but no fixed date has been set at the committee level yet."
As a result, the signing ceremony for the memorandum of understanding (MOU) between the two countries and the announcement of the implementation plan for the US investment project—previously expected to be held on the 18th—are also likely to be postponed.
The ministry had planned to deliver a confidential report to both standing committees regarding the first US investment project. Some observers speculate that the report may have been delayed because the two countries failed to conclude last-minute negotiations related to the project.
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The US investment initiative, with a total scale of USD 350 billion, includes projects such as Alaska liquefied natural gas (LNG) and US nuclear power plant projects. Investments in Westinghouse, a local nuclear power company, are reportedly also under negotiation.
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