Pass special U.S. investment act without partisan blame

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Pass special U.S. investment act without partisan blame

Published: 04 Mar. 2026, 00:00

Audio report: written by reporters, read by AI

Witnesses present their views during a public hearing on the proposed “Special Act on Strategic Investment Management between Korea and the United States” at a plenary session of the National Assembly’s special committee on the Special Act on Investment in the United States on Feb. 24. [YONHAP]

On Tuesday, six major business associations issued an urgent appeal to the National Assembly to swiftly pass the Special Act on Investment in the United States. Their warning that legislative delays could weaken Korea’s leverage in negotiations with Washington and erode industrial competitiveness reflected deep anxiety. In an era of extreme uncertainty in global trade, the business community sees political inaction as compounding risks.

Yet even on the day of the appeal, rival parties remained focused on a separate set of contentious judicial reform bills. The People Power Party (PPP) staged a march from the National Assembly to the presidential office, denouncing what it called “dictatorship disguised as judicial reform.” The Democratic Party (DP) criticized the protest as a political maneuver aimed at reviving former President Yoon Suk Yeol. While both parties describe the U.S. investment bill as urgent, each blames the other for delays.

With local elections three months away, partisan calculations appear to be shaping priorities. Lawmakers are wary of alienating core supporters, even as national interests require prompt action.

The proposed legislation is not complex. It would establish the necessary institutions and funding mechanisms to support $200 billion in strategic investment in the United States and an additional $150 billion in shipbuilding cooperation, commitments made following the conclusion of tariff negotiations between Seoul and Washington. A measure with little substantive room for disagreement has nonetheless been stalled for months. That delay suggests a troubling detachment from the scale of potential losses facing companies and the broader economy.

The DP has said it will reactivate a special committee on U.S. investment on Wednesday, complete a bill review by the following Tuesday and seek passage at a plenary session on Mar. 12. To meet that timetable, however, it must move beyond claims that the delay stems solely from a PPP filibuster and street protests. The PPP has countered that if the bill were truly urgent, it should have taken precedence over the judicial reform measures.

The opposition, for its part, should suspend its extraparliamentary campaign and cooperate across party lines. This bill could serve as a starting point for broader collaboration on other pending issues.

At stake is the national interest. Assigning blame will not restore any damage already done. Lawmakers must confront the reality that delays may provide grounds for higher tariffs, and that a recent ruling by the U.S. Supreme Court has introduced new uncertainty. Exports of semiconductors, automobiles and pharmaceuticals remain vulnerable. Bipartisan cooperation is not optional but necessary.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.