[South Korean] Trade minister asks Nat'l Assembly to pass US investment bill on time

Korea Times ^ | 3/4/26 | Yonhap

[jonatron]

Trade Minister Yeo Han-koo on Wednesday asked the National Assembly to pass a special bill on implementing Korea's investment package for the United States by March 9 as planned, calling it key to maintaining stable trade ties with Washington.

Yeo made the remarks in a meeting hosted by the Korea-U.S. parliamentary union at the National Assembly, highlighting the importance of parliamentary support.

"The National Assembly's timely passage of the bill is extremely important," Yeo said, noting growing uncertainties in the global trade order following the U.S. Supreme Court's decision to strike down U.S. President Donald Trump's global "reciprocal" tariffs.

The U.S. investment bill was introduced by the ruling party in November last year to implement the trade deal reached at the summit talks between President Lee Jae Myung and Trump.

The legislation calls for laying out the procedures required to carry out Seoul's investments in the U.S., including implementing a set of memorandums of understanding and the establishment of a "strategic investment fund" for the $350 billion package.

The ruling party and the government have been seeking to accelerate the passage of the bill after Trump threatened to raise reciprocal tariffs on Korean goods back to 25 percent from 15 percent last month, citing a delay in Seoul's legislative process that is needed to move the trade deal forward.

---

TOPICS: Business/Economy; Politics/Elections
KEYWORDS: tariffs