Seoul: The ruling Democratic Party (DP) and the government reaffirmed their commitment to push for the passage of a special bill focused on implementing South Korea's investment package for the United States, despite facing objections from the main opposition party.

According to Yonhap News Agency, during consultations held at the National Assembly, DP lawmakers and trade ministry officials emphasized the necessity of swiftly passing the bill to alleviate bilateral trade uncertainties. Rep. Kim Won-i highlighted the importance of the bill in maintaining a trust-based relationship with the United States and fulfilling commitments made between the two nations.

The U.S. investment bill, introduced by the DP in November of the previous year, aims to implement the trade agreement reached during the summit talks between President Lee Jae Myung and U.S. President Donald Trump. The legislation outlines the procedures required to facilitate Seoul's investments in the U.S., including executing memoranda of understanding and establishing a "strategic investment fund" for the $350 billion package.

Efforts to expedite the bill's passage have intensified following President Trump's threat to increase reciprocal tariffs on Korean goods from 15 percent to 25 percent, citing delays in Seoul's legislative process needed to advance the trade deal. Earlier this month, a special committee was formed in the National Assembly to fast-track the legislation by March 9. However, progress has stalled due to the main opposition People Power Party's objections related to a set of DP-led judicial reform bills that are unrelated to the investment bill.