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South Korea's $350 Billion Deal: Navigating Trade Tensions with the U.S.
South Korea aims to fulfill its $350 billion U.S. investment pledge, including $150 billion for shipbuilding, to secure tariff reductions and stabilize market conditions.
- A South Korean parliamentary committee will finalise the wording of the Special Act on Investment in the U.S. on Monday, paving the way for a plenary vote this week, the source states.
- Since last month, the Seoul government has been reviewing U.S. investment projects amid pressure from U.S. President Donald Trump, who threatened to raise tariffs over legislative delays.
- The industry ministry will create a dedicated team for U.S. investment projects to identify low-risk projects and support Korea-prioritized selections, including loans and credit guarantees for shipbuilding cooperation.
- A full National Assembly vote is scheduled for March 12, after the special committee including the Democratic Party and the People Power Party reviews the bill Monday.
- Seoul envisions the investment split as $150 billion for shipbuilding cooperation and $200 billion for strategic sectors, but officials warned projects will follow commercial feasibility amid concerns on Korea's won.
16 Articles
16 Articles
The Straits Times
The Star Kuala LumpurSouth Korea parliament due to finalise draft US investment bill under trade deal
SEOUL, March 9 - A South Korean parliamentary committee is expected to finalise the wording of a special bill on Monday, paving the way for a plenary vote this week to enable $350 billion of U.S. investments under a bilateral trade deal between the countries. Read more at straitstimes.com.
South Korea's $350 Billion Deal: Navigating Trade Tensions with the U.S.
South Korea's $350 Billion Deal: Navigating Trade Tensions with the U.S. In a bid to cement economic cooperation, a South Korean parliamentary committee is poised to finalize the wording of a special bill imminently. This legislative move aims to facilitate a $350 billion investment deal with the United States, culminating in a plenary vote anticipated this week.The 'Special Act on Investment in the U.S.' proposes the creation of an investment v…
Minister of Trade, Industry and Energy Kim Jung-kwan, who returned from a visit to the United States, said on the 8th, "I've heard that if the National Assembly passes the Special Act on Investment in the United States and implements the terms of the negotiations, there will be no announcement in the Official Gazette regarding tariff increases." Regarding the oil price ceiling system directed by President Lee Jae-myung, he said, "We're almost re…
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