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| ▲ This file photo, taken Jan. 27, 2026, shows Rep. Kim Won-i of the ruling Democratic Party speaking during a meeting at the National Assembly. (Yonhap) |
ruling party-US investment bill
Ruling party, gov't reaffirm commitment to advance U.S. investment bill
SEOUL, Feb. 26 (Yonhap) -- The ruling Democratic Party (DP) and the government reaffirmed their commitment Thursday to push for the passage of a special bill on implementing South Korea's investment package for the United States amid objections from the main opposition party.
During their consultations at the National Assembly, DP lawmakers and trade ministry officials agreed on the need for the swift passage of the bill in order to ease bilateral trade uncertainties.
"The main point of today's discussion was that it is important to swiftly pass the U.S. investment bill to reassure (the U.S.) that South Korea is making sincere efforts to uphold its trust-based relationship with the U.S. and honor its commitments, and that we are actually implementing them," Rep. Kim Won-i told reporters after the meeting.
"Passing the U.S. investment bill is the first step toward removing uncertainties between the two countries," he added.
The U.S. investment bill was introduced by the DP in November last year to implement the trade deal reached at the summit talks between President Lee Jae Myung and U.S. President Donald 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 memoranda of understanding and the establishment of a "strategic investment fund" for the US$350 billion package.
The DP 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's needed to move the trade deal forward.
Earlier this month, the National Assembly formed a special committee to fast-track the legislation by March 9, but progress has stalled, with the main opposition People Power Party taking issue with a set of DP-led judicial reform bills unrelated to the investment bill.
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