ISTANBUL

South Korea said Tuesday that its planned $350 billion investment in the US under a bilateral trade agreement reached in July may require parliamentary ratification, Yonhap News reported.

Prime Minister Kim Min Seok made the remarks after an opposition lawmaker asked him if ratification is necessary to fulfill the investment commitment made in return for Washington's lowering of tariffs from 25% to 15%.

"It's hard to speak for all cases," Kim said, "Once the final negotiations are done and a conclusion is reached, the agreement of the National Assembly may be needed."

Separately, South Korea’s presidential office said Tuesday that it would not rush to sign a trade deal with the US that could undermine the interests of South Korean companies.

Seoul “cannot sign an agreement that would cause major losses to our companies just because of time pressure," a presidential official told reporters.

While South Korea aims to conclude trade negotiations "at an early date," the official said the government would not accept terms that "cause serious harm" to the national interest.

The official said that President Lee Jae Myung remains committed to not coercing South Korean companies to bear losses in their US investments, adding: "Companies invest in the US to make money, not to give it away."