Welcoming the RCEP Signing as a "Stepping Stone for Greater Achievements"

Failure to Select Candidates for the Corruption Investigation Office Recommendation Committee: "If the Opposition Delays, We Will Not Stand By" Warning

[Asia Economy Reporter Jeon Jin-young] The ruling party, the Democratic Party of Korea, welcomed the signing of the Regional Comprehensive Economic Partnership (RCEP) as “a stepping stone to achieve even greater results in the future.”

Lee Nak-yeon, leader of the Democratic Party, said at the Supreme Council meeting held at the National Assembly on the morning of the 16th, “A vast market comprising 2.26 billion people and 30% of the global economy has been established.”

Lee emphasized, “Establishing an open and inclusive trade order is essential for the rapid recovery of the global economy and the deepening of international cooperation. It also serves as a foundation for greater achievements in the New Southern Policy and trade market diversification strategy. The party will carry out the parliamentary ratification process without any setbacks.”

[Image source=Yonhap News]

Kim Tae-nyeon, floor leader of the Democratic Party, also said at the Supreme Council meeting on the same day, “It is truly meaningful that such an agreement was reached amid the global crisis caused by the novel coronavirus infection (COVID-19) and the strengthening of protectionism.”

Kim said, “The positive effects on the economy are also considerable,” adding, “There is a growth effect of up to 0.15% on our economy, and a research report analyzing an increase of $5.4 billion in consumer welfare has also been released.”

He continued, “Since this is an FTA involving ASEAN, which has very high future development potential, its value will expand further,” and added, “I hope the launch of RCEP will become another cornerstone of our economy’s great transformation. We will do our best to ensure that ratification proceeds quickly.”

[Image source=Yonhap News]

Meanwhile, regarding the High-ranking Officials’ Crime Investigation Unit (HOCIU) Recommendation Committee’s failure to reach a conclusion on candidate selection on the 13th, Lee warned the opposition party, saying, “We cannot tolerate stalling.”

Lee said, “They said they will hold another meeting this Wednesday, so I hope they will definitely reach a conclusion,” and warned, “If the opposition party tries to stall, we will never tolerate it.” He added, “We must appoint the head of the HOCIU and launch the unit within this month. We will actively participate in the deliberations of the relevant standing committees while adhering to the principle of handling the Serious Accidents Punishment Act and the Fair Economy 3 Laws this time.”

Kim also emphasized, “The prompt launch of the HOCIU is the firm and unwavering demand of the people,” adding, “I was hoping for a conclusion, but it is regrettable. I hope this result is not due to the opposition party’s intentional delay tactics.”

This content was produced with the assistance of AI translation services.