South Korean PM convenes key officials on US investment bill amid tariff threats

Prime Minister Kim Min-seok will meet top presidential aides and the ruling party leader Sunday to strategize on passing a special bill fulfilling South Korea's US investment pledges, building on recent trade ministry visits to Washington and an opposition agreement for a special committee.

Prime Minister Kim Min-seok will hold a meeting at 5 p.m. Sunday at his central Seoul residence with President Lee Jae-myung's chief of staff Kang Hoon-sik, Democratic Party leader Rep. Jung Chung-rae, and presidential political affairs secretary Hong Ik-pyo.

The discussions will review insights from Trade Minister Yeo Han-koo's recent weeklong US trip—where he met US officials and lawmakers to reaffirm commitments—and outline strategies to expedite the special bill's passage following last week's opposition agreement to form a special committee. The bill implements South Korea's $350 billion investment pledges to the US, aimed at averting President Donald Trump's threatened tariff hikes on Korean autos, lumber, pharmaceuticals, and reciprocal duties.

The agenda also addresses easing restrictions on dawn delivery services for large discount chains. The ruling party recently proposed legislation allowing 24/7 online operations for overnight services to balance offline and e-commerce interests, despite opposition from labor groups concerned about extended night shifts.

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South Korean Democratic Party lawmakers submitting a special bill for $350 billion US investment and auto tariff reductions in the National Assembly.
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Democratic Party submits special bill for US investment under tariff deal

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South Korea's ruling Democratic Party submitted a special bill on Wednesday to support a $350 billion investment pledge to the United States under a tariff deal finalized last month. The legislation codifies tariff cuts on Korean automobiles from 25 percent to 15 percent with retroactive application. The opposition demands parliamentary ratification, signaling potential partisan disputes.

South Korea's ruling Democratic Party and main opposition People Power Party agreed to expedite passage of a special US investment bill in the national interest. The legislation, aimed at implementing a trade deal with the United States, is set for a vote in a plenary session on March 12. The agreement comes amid threats from US President Donald Trump to raise tariffs on Korean goods.

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South Korea will begin preliminary reviews of potential investment projects in the United States as its National Assembly prepares legislation to implement investment pledges under a trade deal. Finance Minister Koo Yun-cheol emphasized the need to avoid misunderstandings with the US during this process. The move comes amid threats of higher tariffs from Washington.

Prime Minister Kim Min-seok met Korean leaders and residents in New York to thank them for contributions to South Korea-U.S. relations. The visit marks his first trip to the U.S. since taking office in July 2025, part of a five-day itinerary. During a Saturday luncheon, he praised the community as a 'connecting link' in bilateral ties.

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At the Asia-Pacific Economic Cooperation (APEC) summit, Presidents Lee Jae Myung of South Korea and Donald Trump of the United States finalized details of a $350 billion Korean investment pledge. The deal includes tariff cuts on automobiles and shipbuilding cooperation, along with U.S. approval for South Korea to build nuclear-powered submarines. It marks a new chapter in bilateral industrial and economic ties.

South Korea's Foreign Minister Cho Hyun held talks with U.S. Secretary of State Marco Rubio in Washington on February 3, following anticipation announced earlier this week. Amid President Trump's tariff hike threats over delays in a bilateral trade deal, the diplomats reaffirmed cooperation on nuclear submarines, shipbuilding, North Korea denuclearization, and investments.

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South Korean Prime Minister Kim Min-seok proposed on Friday that the United States send a special envoy to North Korea to improve relations between Washington and Pyongyang during talks with U.S. Vice President JD Vance. The meeting also addressed South Korea's probe into a massive customer data leak at Coupang, with both sides agreeing to manage the issue to avoid misunderstandings. This marks Kim's first overseas trip since becoming prime minister.

 

 

 

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