Ruling and Opposition Parties United on Confidential U.S. Investment Report: "We Will Examine Commercial Rationality"

Fiscal and Industry Committees Hold Closed-Door Session
Kim Jungkwan: "One Government-Led Project, Two Projects of Mutual Interest with U.S. Reported"

On the 22nd, the National Assembly received a private report from the government regarding investments in the United States. Both the ruling and opposition parties signaled a thorough debate on U.S.-related investments, referencing commercial viability and other key issues.

The Fiscal and Economic Planning Committee and the Industry, Trade, Energy, and Small and Medium Business Committee received a pre-report from the government at the National Assembly regarding U.S. investments on this day. Both parties have previewed a rigorous argument through closed-door discussions related to this report on investments in the United States. Assemblyman Bae Junyoung, secretary of the People Power Party in the Fiscal Committee, stated, "We firmly reject the intentions of the government and the ruling party to treat today's report as a mere formality," adding, "Just because the government made a report today does not mean that the projects included are commercially viable. No one in the world can assess the commercial viability of a 200 billion dollar investment project through just two hours of Q&A like today." He continued, "After today's report, the two governments should not take the execution of this project as a foregone conclusion," emphasizing, "This is simply a prerequisite for proceeding with any future projects that will be reported from now on."

Deputy Prime Minister and Minister of Finance and Economy Lee Hyungil is attending the full meeting of the Fiscal Planning Committee held at the National Assembly on the 22nd. On that day, Deputy Prime Minister Lee privately reported on the progress and details of investment negotiations with the United States. 2026.09.22 Photo by Dongju Yoon

Assemblyman Oh Gi-hyeong, secretary of the Democratic Party for the Fiscal Committee, also stated, "Since investments in the United States involve the people’s critical taxes and assets, there is no disagreement that the government’s report must be specific enough to convince the National Assembly," adding, "Regardless of party, we intend to debate whether there is commercial viability."

Jo Seungrae, chair of the Fiscal Committee, said in this context, "The National Assembly will check and review the parts that require verification, and since this is the first report, we will listen and then discuss whether further verification or review is needed," adding, "We will proceed with follow-up procedures in consultation with both party secretaries and the government."

During the full session of the Industry, Trade, Energy, and Small and Medium Business Committee, Minister of Trade, Industry and Energy Kim Jungkwan said, "The government has been actively identifying projects that are beneficial to us and discussing them with the U.S. side. We have thoroughly examined U.S.-proposed projects with commercial viability as the consistent principle." He continued, "We are reporting one project for which the government has decided to move forward, and two projects reflecting the interests of both countries for which we have not yet committed to concrete plans. We are providing the implementation plans for all three."

He stated, "The government has held intensive consultations with the U.S. side in order to pursue projects that are commercially viable," and emphasized, "U.S. investment should go beyond simply injecting and recovering funds. It should be approached firmly from a national interest perspective, serving as an opportunity to expand the entry of Korean companies into the U.S. market and further lay the foundation for entry into the global market."

Kim Jungkwan, Minister of Trade, Industry and Energy, appeared at the full committee meeting of the Industry, Trade, Energy, and Small and Medium Business Committee held at the National Assembly on the 22nd and delivered a speech. On the day, Minister Kim reported privately on the progress and details of the investment negotiations with the United States. 2026.09.22 Photo by Dongju Yoon

Minister Kim said, "Today's report includes sensitive information such as details of Korea-U.S. negotiations and specific investment terms of the projects. Disclosure to the public could impact national security and diplomatic relations as well as significantly affect the nation's vital interests. There is also concern about harming trade secrets and the legitimate interests of companies, so please conduct this session privately," he requested.

According to the Korea-U.S. Strategic Investment Act, the government is required to report to the relevant standing committee before beginning consultations with the United States regarding U.S. investment.

This content was produced with the assistance of AI translation services.