Proposal to Form 'Special Committee on the U.S. Investment Act' Passes... Woo Wonshik Says "Handle Within This Month if Possible"

Woo Wonshik: "Please Pass the Bill Within This Month if Possible"

With the passage of the resolution to form a special committee for the Special Act on Strategic Investment Management between Korea and the United States (Special Act on Investment in the United States), which is related to Korea-U.S. tariff negotiations, the special committee was officially launched on the 9th at the plenary session of the National Assembly. The committee will operate for one month from this day until March 9.

On the afternoon of the same day, the National Assembly held a plenary session and passed the agenda item titled "Proposal to Establish a Special Committee for the Deliberation of the Special Act on Investment in the United States." In the vote on the agenda, 160 out of 164 lawmakers present voted in favor, while 3 lawmakers (Assemblymen Kim Junhyeong, Son Sol, and Yoon Jongoh) voted against it, and 1 lawmaker (Assemblyman Han Changmin) abstained.

Prime Minister Kim Minseok and State Council members attended a plenary session at the National Assembly on Feb. 9, 2026, to watch the passage of the motion to form a special committee for handling the Special Act on Investment in the United States. Photo by Kim Hyunmin

National Assembly Speaker Woo Wonshik said immediately after the bill was approved that this was the result of both the ruling and opposition parties each making concessions to reach an agreement, adding, "I would like to express my gratitude on behalf of the people." Addressing the special committee, he said, "Although the activity period has been set at one month, I ask you to hold intensive discussions so that, given the grave and urgent nature of the matter, it will be possible to pass the bill within February if at all possible."

He also addressed the U.S. government, saying, "The National Assembly of the Republic of Korea is discussing the bill with the intention of handling it swiftly, while fully complying with our laws and procedures," and emphasized that "the long-standing alliance between our two countries is rooted in deep mutual trust." His remarks were made in response to the U.S. government having announced its intention to re-raise tariffs, citing delays in the National Assembly's handling of the bill as a problem.

The operating period of the Special Committee on the Special Act on Investment in the United States is one month, from today until March 9. The chair of the special committee is to be selected from the People Power Party. It is reported that Assemblyman Kim Sanghoon, a member of the National Assembly’s Political Affairs Committee, has been designated as the committee chair. Choi Sujin, senior spokesperson for the People Power Party’s parliamentary group, told reporters that day, "For the formation of the special committee, we plan to recommend two members each from the Strategy and Finance Committee, the Political Affairs Committee, and the Trade, Industry, Energy, SMEs, and Startups Committee."

Meanwhile, Song Eonseok, floor leader of the People Power Party, said at a general meeting of lawmakers held before the plenary session, "The ruling and opposition parties have agreed to form the tentatively named Special Committee on the Special Act on Investment in the United States, and it is scheduled to be handled at today’s plenary session," but expressed concern, adding, "Nevertheless, there is no sign that Korea-U.S. relations will improve."

Regarding the interpellation of the government, which will continue until the 11th, he said, "We will thoroughly scrutinize not only Korea-U.S. relations and real estate issues, but also problems such as food price inflation during the Lunar New Year holiday, the hastily promoted administrative integration being pushed for election purposes, and the investigation into the causes of the Muan Airport passenger plane disaster, which has fizzled out because of the government’s lack of cooperation."