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South Korean lawmakers pass law to manage Seoul’s pledge of $350 billion in US investments
The law creates a state-run corporation to oversee a $350 billion U.S. investment pledge, including $200 billion for semiconductors and $150 billion for shipbuilding, after bipartisan approval.
- South Korean lawmakers passed a law to establish a public corporation to manage Seoul's pledge of $350 billion in US investments.
- The investment comprises $150 billion toward shipbuilding and $200 billion for strategic sectors, capped at $20 billion a year.
- The law passed 226 to 8 amid pressure from the Trump administration over trade negotiations.
13 Articles
13 Articles
Associated Press News
South Korean lawmakers pass law to manage Seoul's pledge of $350 billion in US investments
South Korean lawmakers have passed a law to implement a pledge of $350 billion in U.S. investments Seoul made last year to avoid the Trump administration’s highest tariffs.
Establishment of Korea-US Strategic Investment Corporation to implement US$350 billion investment Reporters Choi Pyeong-cheon and Jeong Yeon-sol = As part of the follow-up measures to the US-Korea tariff negotiations, the 'Special Act on Management of Korea-US Strategic Investments' (Special Act on Investment in the US) was passed at the plenary session of the National Assembly held in the afternoon of the 12th.
Tomorrow (the 12th), the Special Act on Investment in the United States will be passed by bipartisan agreement in the National Assembly. This comes 46 days after US President Trump pressured the passage of the bill in January, threatening to "re-increase tariffs." The next step is to determine investment destinations. Our investigation has confirmed that the Korean government is considering three key investment areas: nuclear power plants, power…
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