South Korea Passes $350B Investment Implementation Bill

The National Assembly on Thursday passed a special bill to implement South Korea's US$350 billion investment pledge to the United States, approved with support from both the ruling Democratic Party and the main opposition. The law creates a state-run corporation with 2 trillion won in paid-in capital, sets governance rules for a 50-person workforce and allocates $150 billion for shipbuilding and $200 billion for strategic sectors.