South Korea Passes U.S. Investment Special Act

South Korea's National Assembly has passed the U.S. Investment Special Act, according to Jin10. The act was approved during a full meeting of the special committee responsible for handling the legislation on March 9. The act aims to establish the Korea-U.S. Strategic Investment Corporation with a government investment of 2 trillion won (approximately 9.299 billion RMB). This corporation will include a Risk Management Committee to oversee a $350 billion investment project in the United States. The act also proposes the creation of the Korea-U.S. Strategic Investment Fund under the corporation. This fund will be used to invest in U.S. government-designated institutions and provide loans and guarantees for shipbuilding cooperation investments. The legislation is expected to be reviewed by the National Assembly's Legislation and Judiciary Committee and is anticipated to pass in a full assembly meeting on March 12.