Abstract
Since the inauguration of the Trump administration in 2017, it has been sensitive to foreign capital investments and mergers and acquisitions aimed at acquiring advanced core technologies in the country under the slogan “Make America Great Again”, The Foreign Investment Risk Review Modernization Act of 2018 was enacted by strengthening the authority of the Foreign Investment Commission (CFIUS). “Resurrection of U.S. leadership” since the inauguration of the Biden administration in January 2021. In other words, part of the Global Supply Chain Reorganization (GVC) with the slogan that the U.S. is the only country capable of leading the international order, The “CHIPS and Science Act of 2022”, which took effect at the end of July 2022, and the “Inflation Reduction Act of 2022”, which took effect on August 16, 2022, are representative examples, while actively cooperating with allies and restoring relations, it shows the same trend as the previous government, which prioritizes national interests.
 On June 13, 2022, the United States released a draft bill to sanction specific overseas investment reviews and business activities to respond quickly to national security risks.This is the so-called “National Critical Capabilities Defense Act of 2022 (hereinafter referred to as 2022 NCCDA or revised NCCDA)” bill. The bill is intended to replace NCCDA 2021, which was included in the U.S. Competition Act (COMPETES Act), which passed the House of Representatives in February 2022. International attention and attention are focused on the case that the state directly applies a security review to foreign investment activities of companies, except for China.
 This study analyzes the characteristics of the U.S. NCCDA bill and presents a response strategy to protect its interests from a national security perspective by synthesizing previous studies of similar international law. In particular, as the control targets and standards that the U.S. government or Congress intends to regulate are broad and include provisions for offshore application, it intends to contribute to the establishment of a response strategy for Korean companies and the government and further technical means requiring international cooperation.
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