A South Korean parliamentary committee on Monday approved final language for a special bill designed to implement a bilateral trade agreement that includes $350 billion in investments in the United States.
The proposed “Special Act on Investment in the U.S.” would establish an investment vehicle and a risk management committee to oversee South Korea’s planned investments in sectors including shipbuilding and semiconductor manufacturing in exchange for reduced U.S. tariffs.
Lawmakers from the ruling Democratic Party and the opposition People Power Party unanimously backed the measure during a livestreamed committee meeting, clearing the way for a full National Assembly vote expected March 12.
Top South Korean officials have said the trade deal remains despite a February U.S. Supreme Court ruling that struck down a significant portion of Trump’s tariff framework.
