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Trade minister urges National Assembly to pass U.S. investment bill by March 9

Published: 04 Mar. 2026, 13:15 Updated: 04 Mar. 2026, 18:09

Trade Minister Yeo Han-koo, right, speaks during a meeting hosted by the Korea-U.S. parliamentary union at the National Assembly in western Seoul on March 4. [YONHAP]

Trade Minister Yeo Han-koo on Wednesday asked the National Assembly to pass a special bill on implementing Korea's investment package for the United States by March 9 as planned, calling it key to maintaining stable trade ties with Washington.

Yeo made the remarks in a meeting hosted by the Korea-U.S. parliamentary union at the National Assembly, highlighting the importance of parliamentary support.

"The National Assembly's timely passage of the bill is extremely important," Yeo said, noting growing uncertainties in the global trade order following the U.S. Supreme Court's decision to strike down U.S. President Donald Trump's global "reciprocal" tariffs.

"As I hold talks with the U.S. administration and Congress, I realize the important role of our parliament in stabilizing Korea-U.S. trade relations," he added.

He stressed the need for the union to closely communicate with the United States, noting that misunderstandings can arise as the authority over foreign trade and tariffs in the United States primarily lies with Congress, unlike in Korea.

Yeo added that he has explained this point in his talks with members of both the U.S. Senate and House of Representatives.

The U.S. investment bill was introduced by the ruling party in November last year to implement the trade deal reached at the summit talks between President Lee Jae Myung and Trump.

The legislation calls for laying out the procedures required to carry out Seoul's investments in the United States, including implementing a set of memorandums of understanding and the establishment of a "strategic investment fund" for the $350 billion package.

The ruling party and the government have been seeking to accelerate the passage of the bill after Trump threatened to raise reciprocal tariffs on Korean goods back to 25 percent from 15 percent last month, citing a delay in Seoul's legislative process that is needed to move the trade deal forward.

A bipartisan delegation of the Korea-U.S. parliamentary union is expected to visit Washington later this month for discussions on the issue.

Yonhap