Kim Byeong-gi "Actively support government's tariff negotiations… Must not impose economic burden on the people"

Kim Byeong-gi, floor leader of the Democratic Party of Korea, said on the 29th, "I actively support the government's response and negotiations in the U.S.-Korea tariff talks."

At the Supreme Council meeting held at the National Assembly that morning, Kim said, "The Trump administration is demanding an amount exceeding $350 billion and is pressuring for cash-equivalent investments," adding, "If cash-equivalent investments proceed excessively, they will burden foreign exchange reserves and could lead to the risk of a second foreign exchange crisis."

He continued, "It must never happen that stocks and real estate are sold off at rock-bottom prices and the people once again bear a heavy economic burden," and emphasized, "The Democratic Party will actively support the Lee Jae-myung administration's responses and negotiations to protect economic sovereignty and the people's livelihoods and will provide all possible support."

Kim explained, "The Lee Jae-myung administration is responding cautiously, prioritizing national interests while upholding principles of trust and cooperation as a security and economic ally," and added, "We will limit direct investment to 5% or less and use loans and guarantees for the remainder to minimize foreign currency outflows."

He went on, "We must also prepare currency safety measures such as unlimited currency swaps," and said, "We should proceed in a rational and safe manner for national interests and the economy. Together with the government, we will protect economic sovereignty and the people's livelihoods."

Regarding the People Power Party, which is conducting an unlimited debate (filibuster) on four agenda items submitted to the plenary session, including the revision bill to the Government Organization Act, he urged, "They are insisting only on insincere filibusters. Please think even a little about people's livelihoods."

Oh Se-sung, Hankyung.com reporter sesung@hankyung.com