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| ▲ Kim Yong-beom, the presidential chief of staff for policy, speaks during a meeting on a military airport relocation in the southwestern city of Gwangju in this Dec. 17, 2025, file photo. (Pool photo) (Yonhap) |
(LEAD) S Korea-US tariffs
(LEAD) S. Korea will explain efforts to pass special investment bill to U.S.: presidential aide
(ATTN: ADDS more details in last 4 paras)
By Kim Eun-jung
SEOUL, Jan. 28 (Yonhap) -- South Korea will explain the National Assembly's efforts to pass a special investment bill tied to a bilateral trade deal with the United States in a bid to ease Washington's concerns over delays, a senior presidential aide said Wednesday.
Kim Yong-beom, the presidential chief of staff for policy, told reporters that U.S. President Donald Trump's announcement of plans to raise tariffs on South Korean goods and vehicles from 15 percent to 25 percent appears to be linked to the slower-than-expected legislative process.
"The U.S. complaint appears to stem 100 percent from the delayed legislation at the National Assembly," Kim said.
The ruling Democratic Party submitted the bill in November to support South Korea's US$350 billion investment pledge. It is currently pending at a parliamentary committee and must clear committee deliberations before being put to a plenary vote.
Kim said Washington appears dissatisfied with the review process, noting the government will step up communication with lawmakers to push for passage of the bill as early as possible, potentially in February.
"We will respond calmly by explaining in detail that both the government and the National Assembly are making efforts, while also seeking ways to resolve the issue," Kim said.
Kim stressed the importance of upcoming talks between Industry Minister Kim Jung-kwan and U.S. Commerce Secretary Howard Lutnick, noting that Trade Minister Yeo Han-koo is also set to hold discussions with U.S. Trade Representative Jamieson Greer.
Even before the bill is passed, Kim said the government will consider conducting preliminary reviews of potential investment projects as part of preparations for full-scale implementation.
Addressing speculation over possible real estate tax reforms, Kim said the government is not considering introducing new tax regulations to rein in the property market in the near term, though he did not rule out the use of tax policy if needed.
He described taxation as "an important component" of fundamental measures to stabilize the real estate market, but stressed that no such measures are expected to be announced within the next one or two months.
"This is an issue that requires long-term, in-depth discussions involving multiple ministries," he said.
Kim also said President Lee Jae Myung has instructed the government to overhaul the financial market to support the ongoing stock market rally, adding that the Korea Exchange and the Financial Services Commission have begun discussions on fundamental reform measures.
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