Seoul: South Korea's ruling and opposition parties announced on Saturday their decision to proceed with legislative procedures concerning the country's investment pledges to the United States, despite a recent Supreme Court ruling on President Donald Trump's extensive tariffs, as reported by local media.

According to Anadolu Agency, lawmakers have clarified that the court's decision does not impact Seoul's planned investments under an existing trade framework with Washington. Kim Sang-hoon of the opposition People Power Party, who also leads a special National Assembly committee overseeing the legislation, stated, "The ruling does not appear to constitute grounds to cancel South Korea's investments in the United States." He added that the Assembly intends to hold hearings as planned and review the government's stance on the court decision.

The ruling Democratic Party also confirmed its intention to proceed with the bill, emphasizing that the agreement with Washington remains in effect. A senior Democratic Party official told Yonhap News Agency, "No changes in schedule are expected in processing the special bill on South Korea's investment pledges to the US. We plan to review the legislation in a calm and orderly manner."

In contrast, the minor Jinbo Party has called for an immediate suspension of all procedures related to the investment bill. Earlier this month, the National Assembly adopted a resolution to create a special parliamentary committee to fast-track legislation concerning South Korea's $350 billion investment commitment to the US. This pledge was made following a trade agreement between the two nations.

The initiative followed Trump's threat to increase tariffs on South Korean goods to 25% from the previously agreed 15%, citing delays in Seoul's legislative process.