National Assembly passes bill on $350 bil. investment in US
The National Assembly passed a special bill on Korea’s investments in the United States Thursday, establishing a legal framework to manage $350 billion worth of investment projects agreed upon by the two countries. Lawmakers passed the legislation after reaching a bipartisan agreement during a plenary session. Of the 242 lawmakers participating in the session, 226 voted for it and eight opposed, with another eight abstaining. The bill was passed around three months after the two countries signed a memorandum of understanding (MOU) on the investment and tariff issues, and about six weeks after U.S. President Donald Trump threatened to raise tariffs on Korean goods from 15 percent to 25 percent, citing "delays" in the legislation process. President Lee Jae Myung welcomed the passage of the bill. “The bill’s passage is a meaningful example showing that there are no partisan divides when it comes to national priorities,” he wrote in a post on X. “It establishes the legal and institutional foundation needed to implement the Korea-U.S. tariff agreement.” Lee added that the governmen
