Vance welcomes Nat'l Assembly passage of U.S. investment bill: Seoul's PM office
Published: 13 Mar. 2026, 09:01
![South Korea's Prime Minister Kim Min-seok, left, shakes hands with U.S. Vice President JD Vance as they meet for talks at the White House in Washington on March 12 in this photo released by Kim's office. [YONHAP]](https://koreaseafood.online/data/photo/2026/03/13/5349515a-eee1-4d24-8997-c9d0bd0e6c30.jpg)
South Korea's Prime Minister Kim Min-seok, left, shakes hands with U.S. Vice President JD Vance as they meet for talks at the White House in Washington on March 12 in this photo released by Kim's office. [YONHAP]
U.S. Vice President JD Vance welcomed the Korean parliament's passage of a special bill on the implementation of Seoul's pledge to invest $350 billion in the United States during talks with Prime Minister Kim Min-seok in Washington on Thursday.
Kim and Vance held a meeting at the White House hours after the National Assembly approved the bill on Seoul's investment commitment under a bilateral trade deal, paving the way for the Asian country's implementation of the investment pledge.
"Vice President Vance welcomed the establishment of legal conditions for the implementation of the investment agreement through the passage of the special investment bill, and called for close communication vis-à-vis [South Korea's] investment in the United States," Kim's office said in a press release.
The prime minister told Vance that the bill was passed on the back of the South Korean government's efforts, which he said represent Seoul's "strong" willingness to enforce the investment agreement, according to Kim's office.
"Kim said he hopes that South Korea's investment will contribute to the U.S. efforts to reinvigorate American manufacturing and create jobs, and serve as a foundation for broader development of the South Korea-U.S. relations," it said.
Kim also called on Vance to work together to quickly implement other key security agreements specified in a joint fact sheet that was released in November to outline various agreements, including those on Seoul's push to build nuclear-powered submarines and secure civil uranium enrichment and spent nuclear fuel reprocessing rights for peaceful purposes.
![North Korean leader Kim Jong-un, left, and U.S. President Donald Trump are seen during their summit in Hanoi, Vietnam, on Feb. 28, 2019. [YONHAP]](https://koreaseafood.online/data/photo/2026/03/13/8a8b1d11-77bb-44b3-a52c-95f33a8c2999.jpg)
North Korean leader Kim Jong-un, left, and U.S. President Donald Trump are seen during their summit in Hanoi, Vietnam, on Feb. 28, 2019. [YONHAP]
During Thursday's meeting, the two sides reaffirmed the two governments' openness to dialogue with North Korea, the office said.
Kim's visit to the United States comes amid speculation that U.S. President Donald Trump could attempt to resume dialogue with North Korean leader Kim Jong-un when he visits China, reportedly from late March to early April.
During Kim's previous trip to Washington in January, he proposed to Vance the idea of the United States sending a special envoy to North Korea as a way to improve relations between Washington and Pyongyang. Kim and Vance last met in Washington on Jan. 23.
In Thursday's meeting, Kim pointed out to Vance that the issue related to Coupang has recently been managed stably, addressing the concerns that have lingered in the United States over South Korea's probe into a massive data leak involving the U.S.-listed firm.
Vance said he respects South Korea's domestic law and system while expressing his appreciation to the Seoul government for its efforts to maintain communication over issues of concern in Washington.
![Park Dae-jun, chief executive officer of Coupang, answers questions during a National Policy Committee hearing on a Coupang personal data leak at the National Assembly in Yeouido, western Seoul, on Dec. 3, 2025. [NEWS1]](https://koreaseafood.online/data/photo/2026/03/13/7d5072ea-18e5-4443-9d1f-b56306a217c4.jpg)
Park Dae-jun, chief executive officer of Coupang, answers questions during a National Policy Committee hearing on a Coupang personal data leak at the National Assembly in Yeouido, western Seoul, on Dec. 3, 2025. [NEWS1]
However, Washington announced that the U.S. Trade Representative (USTR) would launch a Section 301 investigation into "structural excess capacity and production in manufacturing sectors" across 16 economies, including South Korea.
“The United States will no longer sacrifice its industrial base to other countries that may be exporting their problems with excess capacity and production to us," USTR representative Jamieson Greer said in a press release Thursday. "Today’s investigations underscore President Trump’s commitment to reshore critical supply chains and create good-paying jobs for American workers across our manufacturing sectors.”
Korean diplomats on Thursday called on Washington to guarantee fairness in a sweeping new trade investigation, cautioning that the probe into excess capacity in manufacturing could undermine the "balance of interests" at the heart of the bilateral economic partnership .
The concerns were raised during high-level diplomatic talks in South Korea as Michael DeSombre, U.S. assistant secretary of state for East Asian and Pacific affairs, sat down with his Korean counterparts, including Deputy Minister for Political Affairs Chung Eui-hae, for the first time in Seoul.
"We emphasized that the balance of interests already agreed upon between the two countries must be respected," a senior official from the Ministry of Foreign Affairs told reporters after the talks. "We specifically requested that South Korea should not receive less favorable treatment compared to other nations, a point the United States said it understood."
![Deputy Foreign Minister Chung Eui-hae, right, poses with Michael DeSombre, U.S. assistant secretary of state for East Asian and Pacific affairs, ahead of their meeting at the foreign ministry in Seoul on March 12. [YONHAP]](https://koreaseafood.online/data/photo/2026/03/13/618680fa-419e-4ae7-a896-634f7718b51c.jpg)
Deputy Foreign Minister Chung Eui-hae, right, poses with Michael DeSombre, U.S. assistant secretary of state for East Asian and Pacific affairs, ahead of their meeting at the foreign ministry in Seoul on March 12. [YONHAP]
BY KIM MIN-YOUNG, YONHAP [[email protected]]
with the Korea JoongAng Daily
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