Seoul: President Lee Jae Myung is set to host a luncheon with the leaders of the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) on Thursday to discuss the economy and other pending issues. Lee will meet with DP leader Jung Chung-rae and PPP leader Jang Dong-hyeok at Cheong Wa Dae, marking the first three-way meeting since September last year.
According to Yonhap News Agency, the luncheon was arranged to discuss ways to improve people's livelihoods and exchange "candid" views on a broad range of state affairs without limiting the agenda, as stated by Kang Hoon-sik, the presidential chief of staff. 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. This follows a threat last month by U.S. President Donald Trump to raise reciprocal tariffs and auto, lumber, and pharmaceutical duties on South Korea back to 25 percent from 15 percent.
During Tuesday's Cabinet meeting, Lee emphasized the need for the National Assembly to expedite legislative procedures to support trade negotiations and other policy initiatives. He warned that the government could face difficulties responding to a rapidly changing global order if key bills are delayed.