South Korea’s parliament has enacted a special bill enabling the country’s $350bn investment in the US as part of a bilateral trade deal aimed at reducing high American tariffs on Asia’s fourth-largest economy.
Seoul has come under growing pressure from Washington to implement the investment deal signed in October. In January, US President Donald Trump threatened to raise tariffs on Korean products, citing the stalled legislation needed to implement the investment package.
As part of the trade deal, South Korea agreed to invest $200bn in cash in US strategic industries including semiconductors, pharmaceuticals, critical minerals, energy, AI and quantum computing.
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