National Assembly’s U.S. Investment Special Committee Unanimously Passes Special Act on Investment in the United States

The "Special Act on Strategic Investment Management between Korea and the United States (Special Act on Investment in the United States)" cleared a key hurdle in the legislative process at the National Assembly on March 9, 2026.

The Special Committee for the Passage of the Special Act on Investment in the United States convened a plenary session that afternoon, unanimously passing the bill with support from both the ruling and opposition parties. Earlier in the day, the committee held a series of meetings, including a subcommittee and a legislative review subcommittee, to continue discussions.

On the 9th, at the 4th plenary meeting of the Special Committee for the Passage of the Special Act on Investment in the United States held at the National Assembly, Chairman Kim Sanghoon presented the special bill for strategic investment management between Korea and the United States (Special Act on Investment in the United States). March 9, 2026 Photo by Hyunmin Kim

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The Special Act on Investment in the United States was prepared to implement the Korea-U.S. memorandum of understanding (MOU) committing Korea to pursue $350 billion in investments in the United States. The bill calls for the establishment of the Korea-U.S. Strategic Investment Corporation (tentative name) to oversee investment projects, and outlines measures such as creating and operating a Risk Management Committee.

If the government seeks to pursue investments in the United States that lack commercial viability, it will be required to obtain prior consent from the National Assembly. In addition, if the corporation's Operations Committee resolves to proceed with a candidate investment project in the United States, the government must report the details in advance to the relevant standing committee of the National Assembly before initiating discussions with the U.S. side.

The corporation's capital will be set at 2 trillion won, and the Korea-U.S. Strategic Investment Fund will be financed by issuing Korea-U.S. Strategic Investment Bonds through entrusted institutions. The plan to secure funding through corporate contributions was excluded during discussions between the ruling and opposition parties.

Park Sooyoung, the opposition secretary from the People Power Party, told reporters that day, "We decided to exclude corporate contributions from the funding sources so as not to pressure our companies into making contributions," adding, "There were no major disagreements aside from this."

The committee's activities had been effectively suspended after its first meeting due to the fallout from the so-called "Three Judicial Reform Bills," but operations resumed on March 4, 2026, following an agreement between the ruling and opposition parties. Since then, the parties have continued to negotiate details such as the scale of the investment corporation and the National Assembly's oversight of U.S.-bound investments.

Meanwhile, having cleared the committee stage, the Special Act on Investment in the United States is expected to undergo a legal and textual review by the Legislation and Judiciary Committee, before being referred to the plenary session of the National Assembly on March 12, 2026, where it is expected to pass.

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