National Assembly set to vote on bill on U.S. investment pledges

▲ This file photo shows the National Assembly holding a plenary session on March 1, 2026. (Yonhap)

parliament-US investment bill

National Assembly set to vote on bill on U.S. investment pledges

By Yi Wonju

SEOUL, March 12 (Yonhap) -- The National Assembly is set to hold a plenary session Thursday to vote on a special bill on South Korea's US$350 billion investment pledge to the United States under a trade deal between the two nations after rival parties reached a bipartisan agreement earlier this week.

On Wednesday, the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) approved the bill during a meeting of the parliamentary legislation and judiciary committee.

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 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 in 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 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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