Article

The South Korean parliament approved a bill enabling $350 billion in investments in U.S. strategic industries, aligned with a trade agreement from last year. The legislation, enacted with bipartisan support, will establish a state-backed investment corporation with 2 trillion won ($1.4 billion) in capital and a strategic investment fund.

It prioritizes sectors such as shipbuilding, semiconductors, pharmaceuticals, energy, and AI, while allowing additional sectors through presidential decree. U.S. investments must ensure commercial feasibility. The bill aims to address complexities in tariff negotiations and maintain economic stability amidst a U.S. probe into industrial capacity.