Trade minister urges swift passage of critical investment bill

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Trade minister urges swift passage of critical investment bill

Published: 12 Feb. 2026, 15:44

LEE JAE-LIM
[email protected]

Audio report: written by reporters, read by AI

James Kim, chairman of American Chamber of Commerce in Korea (Amcham), left, and Trade Minister Yeo Han-koo poses for a photo at a luncheon hosted by the organization to strengthen bilateral economic cooperation between Korea and the United States. The event was held at Grand Hyatt Seoul hotel in central Seoul on Feb. 12. [YONHAP]

Korea's Trade Minister Yeo Han-koo on Thursday stressed the need for the swift passage of a pending trade and investment bill to de-risk U.S. tariff hikes, saying that nontariff issues, including digital regulations, should not stand in the way of reaching a bilateral trade agreement.

“[Digital regulations] are not something to worry about,” Yeo said when pressed by Korean reporters on how much nontariff issues have affected the stalled negotiations.

He made the remarks at a luncheon hosted by the American Chamber of Commerce in Korea (Amcham) at the Grand Hyatt Seoul hotel in central Seoul, which was attended by more than 110 Amcham members, including corporate executives and stakeholders seeking to deepen bilateral economic cooperation.

"Ultimately, we just need to faithfully implement what we agreed to in the joint fact sheet. As long as we proceed steadily and stably, that should be sufficient."

Yeo's comments came after U.S. President Donald Trump threatened to raise tariffs on Korean goods to 25 percent from the previously agreed 15 percent, citing concerns that Seoul has been slow to pass legislation enabling a pledged $350 billion investment in the United States.

Trade Minister Yeo Han-koo and James Kim, chairman of the American Chamber of Commerce in Korea (AmCham), along with other guests, are at the luncheon held at the Grand Hyatt Seoul hotel in central Seoul on Feb. 12. [YONHAP]

In Korea, the ultimatum has fueled speculation that Washington's stance may also reflect pent-up frustration over Seoul's tighter oversight of U.S. tech firms — including a probe into the Coupang data breach — as well as broader digital policy measures aimed at curbing misinformation and preventing market dominance by online platforms.

In response to U.S. pressure, the National Assembly recently established a bipartisan special committee to fast-track the investment bill, giving lawmakers a 30-day mandate to pass it by March 9.

In his opening address, Yeo emphasized the government's commitment to honoring the trade deal.

“The Korean government is strongly committed to implementing the agreed outcome for the tariff negotiations in order to ensure stability of the Korea-U.S. trade and investment relations,” Yeo said in his opening remarks. “We are making every effort to see the [trade bill] enacted as soon as possible. We are also working closely with our counterpart to implement the follow-up measures, including nontariff issues outlined in the Korea-U.S. joint fact sheet.”

Amcham Chairman James Kim expressed optimism that the two sides could reach an amicable resolution.

“Through Amcham’s annual business environment inside report, we have seen tangible progress with approximately 40 percent of the issues that Amcham has raised,” Kim said. “But we have 60 percent left […] So we look forward to sustaining this momentum on reducing nontariff barriers.”

After the opening remarks, the rest of the event took place behind closed doors. Participants are understood to have discussed recent shifts in the global trade environment, Korea's policy direction, bilateral investment cooperation, and ways to improve conditions for foreign direct investment in Korea.

BY LEE JAE-LIM [[email protected]]