South Korea’s ruling and opposition parties agreed on Wednesday to pass a special bill on March 12 to enable major investments in the U.S. under a bilateral trade deal, moving to meet Washington’s expectations after recent pressure over delays.
Ruling Democratic Party (DP) lawmaker Cheon Jun-ho and the main opposition People Power Party’s (PPP) Yoo Sang-beom reached the agreement during a meeting at the National Assembly, saying the U.S. investment special law would be handled without further delay, Cheon’s office said.
According to the Yonhap News Agency, Cheon told reporters following the meeting that the opposition had decided to support the bill in consideration of the national interest, adding that it would be passed in a plenary session on March 12.
The international environment, including heightened tensions following conflict between the United States and Iran, made it increasingly important for the bill to be passed on schedule based on U.S. expectations, Yonhap quoted Yoo saying.
If the legislative process were delayed further, “the United States could impose very strong trade retaliation,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
South Korea’s ruling and opposition parties agreed on Wednesday to pass a special bill on March 12 to enable major investments in the U.S. under a bilateral trade deal, moving to meet Washington’s expectations after recent pressure over delays.Ruling Democratic Party (DP) lawmaker Cheon Jun-ho and the main opposition People Power Party’s (PPP) Yoo Sang-beom […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-37079","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n