Special Act on Investment in the United States Clears Major Legislative Hurdle

The Special Act on Korea-U.S. Strategic Investment Management (Special Act on Investment in the United States) is expected to pass a critical stage of the legislative process in the National Assembly on March 9.

The Special Committee on the Special Act on Investment in the United States, established to handle the bill, is scheduled to hold a series of meetings—including the small subcommittee, the bill review subcommittee, and a full committee meeting—on this day to approve the bill. The committee will conclude its activities after processing the bill.

Prime Minister Minseok Kim and other Cabinet members attended the plenary session at the National Assembly on the 9th, observing the passage of the "Special Committee Formation for the U.S. Investment Special Act." February 9, 2026. Photo by Hyunmin Kim

The Special Act on Investment in the United States was prepared to implement the Korea-U.S. Memorandum of Understanding (MOU) on financial business agreement, under which Korea agreed to promote investment in the United States worth 350 billion dollars. The bill includes provisions to establish a tentatively named Korea-U.S. Strategic Investment Corporation to oversee investment projects, as well as to create and operate a Risk Management Committee.

The committee had effectively been inactive after its first meeting due to the aftermath of the so-called "Three Judicial Reform Bills," but resumed its activities on March 4 following an agreement between the ruling and opposition parties. Since then, the parties have continued negotiations over specific issues such as the size of the investment corporation and the National Assembly's method of oversight over U.S.-bound investments.

Park Sooyoung, the opposition party secretary of the committee, told reporters on the morning of March 9, "Senior professional staff and vice ministers organized the key issues over the weekend, and now only wording adjustments remain." He added, "We have decided that the National Assembly will be notified in advance, rather than requiring prior consent, regarding U.S.-bound investments."

The committee is expected to process the Special Act on Investment in the United States in a full meeting this afternoon. Afterward, the bill will be reviewed by the National Assembly Legislation and Judiciary Committee for legal and wording examination and is expected to be submitted to the plenary session on March 12 for final passage.

This content was produced with the assistance of AI translation services.