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Trump and South Korea’s Lee Reaffirm Economic Agenda as Trump Eyes Kim Meeting This Year

Working-level talks will implement trade and shipbuilding plans plus address new friction over base land ownership requests, domestic probes.

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U.S. President Donald Trump meets with South Korean President Lee Jae Myung at the Oval Office, at the White House, in Washington, D.C., U.S., August 25, 2025. REUTERS/Brian Snyder
A general view shows HD Hyundai Heavy Industries Ulsan Shipyard in Ulsan, South Korea, December 29, 2023. HD Hyundai Heavy Industries/Handout via REUTERS/File Photo ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT./File Photo
US President Donald Trump and North Korean leader Kim Jong Un stand at the demarcation line in the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, on June 30, 2019.

Overview

  • The leaders held a 140-minute first summit in Washington that stayed cordial despite Trump’s pre-meeting post alleging a “purge or revolution” in South Korea.
  • Trump said he would like to meet Kim Jong Un this year, while Lee urged him to act as a peacemaker to reopen talks with Pyongyang.
  • Both sides reinforced July’s framework cutting reciprocal tariffs to 15% with roughly $350 billion in Korean investment, highlighting a $150 billion plan to bolster U.S. shipbuilding; Trump discussed contracting ships and attracting shipyards, and top Korean CEOs joined related business events.
  • Trump newly proposed U.S. ownership of land at bases hosted in South Korea and declined to discuss troop levels, leaving defense posture and cost-sharing to follow-on negotiations.
  • Trump flagged concerns over raids on churches and Korean-controlled areas of a joint base; Lee said they stem from a special counsel probe into former president Yoon, with details to be handled at working level.