Overview
- Ruling and opposition leaders agreed Wednesday to move the Special Act for U.S. investment without delay, aiming for committee clearance on March 9 and a plenary vote by March 12.
- The National Assembly’s special committee reconvened, tabled nine related bills and began subcommittee reviews after weeks of partisan standoff.
- The proposals would create a new state-run vehicle for U.S. projects, authorize use of the national budget for investments and require parliamentary oversight of project approvals.
- Six major business groups urged swift passage, while Trade Minister Yeo Han-koo pressed lawmakers to act as Rep. Kim Young-bae cited Sunday as the U.S. deadline to decide on Section 301 probes.
- External pressure has intensified after President Donald Trump imposed Section 122 tariffs and threatened in January to lift duties on Korean goods back to 25 percent, and a cross-party delegation plans meetings in Washington on March 23.