National Assembly holds 12 parliamentary audits today, with U.S. investment in focus
The National Assembly will hold parliamentary inspections at 12 standing committees, including the Legislation and Judiciary Committee, on the 20th. With the first-ever audit of the Korea-U.S. Strategic Investment Corporation, tasked with handling the $350 billion (about 480 trillion won) investment in the United States, the abolition of the PBS (Project-Based System, which allocates research funding on a per-project basis) and the proposed integration of the Korea Military Academy are expected to be key points of contention.
The Legislation and Judiciary Committee is split into Regional Teams 1 and 2, auditing courts in the Honam and Chungcheong regions—such as the Daejeon High Court, Gwangju High Court, and Patent Court—and courts in the Yeongnam region, including the Daegu and Busan High Courts. Question topics include the investigation, indictment, and trial progress in major cases involving Myeong Tae-gyun and Kim Young-sun, as well as responses to livelihood crimes such as drug offenses and voice phishing.
The Strategy and Finance Committee will audit the Export-Import Bank of Korea, Korea Minting and Security Printing Corporation, and Korea Investment Corporation, among others. As this is the first audit of the Korea-U.S. Strategic Investment Corporation, both ruling and opposition parties are expected to scrutinize its execution framework. The Science, ICT, Broadcasting and Communications Committee will audit the National Research Council of Science and Technology (NST) and the Korea Institute of Science and Technology (KIST), with the abolition of the PBS at government-funded research institutes expected to be a key issue.
The National Defense Committee will audit the Navy and Air Force headquarters, with clashes expected over the proposed integration of the Korea Military Academy. The Health and Welfare Committee will audit the Korean Red Cross and the Korea Health Industry Development Institute, among other agencies under the ministry, with questions likely to focus on the Red Cross leadership, which has been vacant for 11 months.
Some standing committees will leave their meeting rooms for on-site inspections. The Land, Infrastructure and Transport Committee will visit Hyundai Motor's Namyang R&D Center and the Korea Transportation Safety Authority's Automobile Safety Research Institute, while the Trade, Industry and SME Committee heads to Gumi, North Gyeongsang Province, and the Climate, Energy, Environment and Labor Committee heads to Jeju for field inspections.
The Foreign Affairs and Unification Committee is divided into Americas and Asia teams to audit overseas missions. The Americas team will inspect the Embassy in Canada and the Consulates General in Toronto and Montreal, while the Asia team will audit the Embassy in China and the Consulate General in Shanghai. Local Teams 1 and 2 of the Public Administration and Security Committee will audit North Chungcheong Province and its provincial police, and North Gyeongsang Province and its provincial police, respectively. The Agriculture, Forestry, Fisheries and Food Committee will address policies on the safety of forest field workers during its audit of the Korea Forest Service and the Korea Forest Welfare Promotion Agency, wrapping up the day's audit schedule.
