Amid heightened pressure from Washington, the National Assembly has passed a resolution to form a special committee to handle legislation to implement South Korea’s investment pledges to the United States under a trade deal between the two nations.
With bipartisan support, the National Assembly approved the resolution Monday during a plenary session for the committee to deal with the Special Act on the Management of Strategic Investment between South Korea and the United States.
The move comes after U.S. President Donald Trump threatened to raise the tariffs back to 25 percent from the 15 percent level agreed upon in July 2025, citing a lack of follow-through on Seoul’s pledge to invest 350 billion dollars in the U.S. and purchase 100 billion dollars’ worth of American energy products.
Several related bills were introduced by November of last year — four by the ruling Democratic Party(DP) and one by the main opposition People Power Party(PPP).
The special act is expected to pass early next month, after the committee’s 30-day mandate ends.
The special committee will consist of 16 members — eight lawmakers from the DP, seven from the opposition PPP and one unaffiliated with either of the two major parties — while a PPP member will serve as chair.