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South Korean President Hosts Bipartisan Luncheon to Boost Economic Cooperation

South Korean President Lee Jae Myung will host a luncheon with the leaders of the ruling Democratic Party and main opposition People Power Party to seek bipartisan cooperation on the economy and pending issues. The meeting aims to discuss a wide range of state affairs, including critical trade negotiations with the United States and a related $350 billion investment bill. President Lee has urgently called for accelerated legislative procedures to cope with a rapidly changing and competitive global environment. The discussions are expected to cover regulatory reform, artificial intelligence, and measures to strengthen national competitiveness amid international instability.

Key Points: S. Korea President Lee Hosts Ruling, Opposition Leaders for Talks

  • Bipartisan luncheon on state affairs
  • Focus on US trade deal & investment bill
  • Urgent call to speed up legislation
  • Discussion on AI and global competition
2 min read

South Korean President Lee to host luncheon with leaders of ruling, opposition parties tomorrow

President Lee Jae Myung meets party leaders to discuss economic cooperation, US trade talks, and urgent legislation amid global instability.

"Global instability is extremely high, and competition among countries has become so intense that it is even undermining international order. - Lee Jae Myung"

Seoul, Feb 11

South Korean President Lee Jae Myung will host a luncheon with the leaders of the ruling Democratic Party and the main opposition People Power Party 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.

- IANS

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Reader Comments

R
Rohit P
The pressure from the US on trade deals is something we can relate to. South Korea's situation reminds me of our own negotiations sometimes. It's smart to get all parties on the same page before facing external pressure. Unity is strength, especially in foreign policy.
A
Aman W
$350 billion investment pledge is a huge number! Shows how critical these partnerships are. In today's world, no country can afford to go it alone. Hope they find common ground for the sake of their economy. More power to them.
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Sarah B
While the intent is good, a luncheon meeting often feels like a symbolic gesture. Real cooperation needs consistent effort, not just one meal. The article mentions Lee urged speedier legislationā€”that's the real challenge. Hope they move beyond talk to actual action.
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Vikram M
He's right about the rapidly changing world order. With AI and global instability, countries need to be agile. Our own parliament could learn from this urgency. Delays in key bills hurt our competitiveness too. Jai Hind!
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Kavya N
Interesting to see the focus on "people's livelihoods." Ultimately, that's what matters most, whether in Seoul or Mumbai. Hope their discussion leads to policies that actually help the common person and not just remain political talk. šŸ¤ž

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