This undated file photo shows a National Assembly plenary session taking place in western Seoul. (The Korea Herald DB)


The National Assembly on Thursday passed a special bill to facilitate Seoul’s $350 billion investment in the United States, as part of a bilateral strategic investment framework struck with 바다이야기부활 Washington last year.
The bill was approved with 226 in favor, eight against and eight abstentions, with 242 of the 296 lawmakers present.
The legislation stems from a bilateral u 바다이야기예시 nderstanding between Seoul and Washington to expand Korean investment in the US across key sectors such as manufacturing, energy and advanced technologies.
Under the bill, the government wil 바다이야기예시야마토게임 l inject 2 trillion won ($1.35 billion) in initial capital to establish a state-run entity tentatively named the Korea-US Strategic Investment Corp., tasked with overseeing a dedicated investment fund 야마토게임 for projects in the United States.
The fund will be primarily financed through returns from the management of South Korea’s foreign exchange reserves. If additional resources are needed, th 릴게임한국 e government may issue special Korea-US strategic investment bonds or raise funds through borrowing from financial institutions.
The bill designates the fund’s manager as the same entity responsible for operating the Foreign Exchange Stabilization Fund, ensuring consistency with existing foreign exchange management systems.
The legislation also includes safeguards aimed at managing investment risks. A project management committee under the Ministry of Trade, Industry and Energy will review the commercial viability of potential investments, while a separate operating committee under the Ministry of Economy and Finance will make final decisions.
The bill also replaces a prior parliamentary approval requirement with a prior reporting system, streamlining legislative procedures.
The move is expected to ease tariff pressure from US President Donald Trump, who in January criticized Seoul’s parliament for delaying legislation to implement the investment framework.
President Lee Jae Myung welcomed the passage.
“Passage of the special law has established the institutional and legal foundation needed to implement the Korea-US tariff agreement,” Lee said in a Facebook post Thursday. “The government will also move ahead without delay with preparations and follow-up measures needed to implement the law,” he added.
Separately, Prime Minister Kim Min-seok departed for the United States on Thursday for a multicity visit that will include Washington and New York, followed by Geneva, through March 19.
Kim is expected to meet senior US officials in Washington, potentially including US Vice President JD Vance, to discuss bilateral tariff negotiations and broader regional issues, including North Korea.
If the meeting with Vance takes place, it would mark the first high-level contact between the two sides since Jan. 23.
The trip will also include meetings with international organizations as Seoul seeks support for hosting a proposed United Nations AI hub, as well as consultations with the UN secretary-general and heads of specialized agencies.