Korea Goes Adrift in Processing Legislation of US Investment

Korea goes adrift in processing legislation of US investment

Korea faces mounting uncertainty over the timely passage of legislation required to implement its $350 billion investment pledge in the United States, as partisan rancor in the National Assembly shows little sign of letting up. Last week, Seoul launched a special Assembly committee tasked with shepherding the legislation amid mounting trade pressure from Washington. The U.S. has warned it could reinstate a 25 percent tariff on Korean imports, up…

South Korea activates tariff linked investment panel before law passes

South Korea’s Ministry of Trade, Industry and Resources (MOTIR) on Friday convened the first meeting of the Korea-U.S. Strategic Investment MOU Implementation Committee, formally activating a temporary system to review candidate projects tied to the two countries’ tariff agreement. The ministry said the mechanism would allow the government to examine proposed investment projects even before […]