▲ Finance Minister Koo Yun-cheol (L) shakes hands with Rep. Kim Sang-hoon of the main opposition People Power Party during a meeting of a special parliamentary committee dedicated to advancing a special U.S. investment bill at the National Assembly in Seoul on March 9, 2026. (Yonhap)

parliament-US investment bill

U.S. investment bill expected to pass Nat'l Assembly this week

By Yi Wonju

SEOUL, March 9 (Yonhap) -- The National Assembly is expected to pass a special bill on South Korea's US$350 billion investment pledge to the United States this week after rival parties reached a bipartisan agreement Monday.

The bill, unanimously approved by the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) at Monday's meeting, will be put up for a vote during a plenary session on Thursday.

A special committee set up last month to fast-track the legislation held its final plenary meeting as its 30-day mandate was set to expire later in the day.

Under the bill, a new state-run corporation specialized in implementing the investment package will be set up with a paid-in capital of 2 trillion won (US$1.36 billion), fully financed by the South Korean government.

The corporation will consist of a total workforce of 50 employees, and three members on the board of directors who will be required to have at least 10 years of experience in the financial sector or strategic industries to prevent crony appointments.

The bill was introduced by the DP last November to carry out Seoul's investment pledges to the U.S. as part of a trade deal reached by the two countries last year.

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 rival parties had initially considered allowing private companies to contribute to the fund but agreed to drop the clause.

"The clause was dropped as there were concerns from companies that they would have no choice but to contribute if they were pressured to do so," PPP Rep. Park Soo-young told reporters after the committee meeting.

The government has been seeking to accelerate the passage of the bill after U.S. President Donald Trump threatened to raise reciprocal tariffs on Korean goods back to 25 percent from 15 percent in January, citing a delay in Seoul's legislative process that's needed to move the trade deal forward.

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