▲ Rep. Han Byung-do (2nd from R), floor leader of the ruling Democratic Party, and his PPP counterpart, Rep. Song Eon-seog (2nd from L), pose for a photo during a meeting at the National Assembly in Seoul on Feb. 4, 2026. (Yonhap)

political parties-US investment

Rival parties to launch special committee to advance U.S. investment bill

SEOUL, Feb. 4 (Yonhap) -- The ruling Democratic Party (DP) and the main opposition People Power Party (PPP) agreed Wednesday to establish a special committee to handle a special bill on implementing South Korea's investment package pledged to the United States.

DP floor leader Han Byung-do and his PPP counterpart, Rep. Song Eon-seog, told reporters that the agreement was reached during a meeting at the National Assembly earlier in the day.

The special committee will consist of 16 members, with eight lawmakers from the DP, seven from the PPP and one from outside the two major parties. A PPP member will chair the committee.

The committee will run under a 30-day mandate.

The special bill on U.S. investment 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, following tariff actions by U.S. President Donald Trump.

Under the deal, Seoul has committed to investing US$350 billion in the U.S., among other pledges, in return for Washington lowering reciprocal tariffs on South Korea to 15 percent from 25 percent.

In an online post last month, Trump threatened to raise reciprocal tariffs on South Korean goods back to 25 percent from 15 percent, citing a delay in Seoul's legislative process needed to move the trade deal forward.

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