Seoul, Feb 11 South Korean President Lee Jae Myung will host a luncheon with the leaders of the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) later this week to discuss ways to seek bipartisan cooperation on the economy and other pending issues, Cheong Wa Dae said.
Lee is scheduled to meet DP leader Jung Chung-rae and PPP leader Jang Dong-hyeok at Cheong Wa Dae on Thursday to have discussions on a wide range of state affairs, Kang Hoon-sik, the presidential chief of staff, told reporters, Yonhap News Agency reported.
"The luncheon was arranged to discuss ways to improve people's livelihoods and ensure stable governance," Kang said. "They are expected to exchange candid views on a broad range of state affairs without limiting the agenda."
Possible agenda items include ongoing trade negotiations with the United States, as Seoul is under pressure to pass a special investment bill tied to a bilateral trade agreement with Washington after US President Donald Trump threatened last month to raise reciprocal tariffs and auto, lumber and pharmaceutical duties on South Korea back to 25 per cent from 15 per cent.
On Tuesday, Lee Jae Myung urged the National Assembly to speed up its procedures to legislate bills, saying that the government would have difficulty coping with the changing world order if such procedures are slow.
Lee made the remarks at a Cabinet meeting, citing higher uncertainties in the world and heated competition among nations that could disrupt the traditional world order.
“It is very difficult to respond proactively to the rapidly changing international environment at the current pace of legislation,” Lee said.
“A wide range of bills is critical to strengthening national competitiveness by supporting trade negotiations with foreign countries, advancing regulatory reform, and fostering drivers for broad transformation,” he added.
Lee urged bipartisan cooperation on issues related to national interests, particularly foreign affairs, amid an increasingly volatile global environment and rapidly evolving artificial intelligence technologies.
“Global instability is extremely high, and competition among countries has become so intense that it is even undermining international order,” he said. “Under these circumstances, national unity and reform measures are essential.”
On Monday, the National Assembly established a special committee to handle legislation aimed at implementing South Korea's USD 350 billion investment pledges to the United States under a trade deal between the two nations.
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