Overview
- The fact sheet confirms U.S. approval for South Korea to build nuclear-powered attack submarines and supports a process toward civilian uranium enrichment and spent-fuel reprocessing consistent with U.S. law.
- Seoul pledged $350 billion in U.S. investments—$150 billion for shipbuilding and $200 billion for strategic projects—with annual cash transfers capped at $20 billion to safeguard financial stability.
- The U.S. will reduce sectoral tariffs to 15% on items including automobiles, auto parts, timber and pharmaceuticals, and will offer semiconductor tariff terms no less favorable than competitors, with some auto cuts to apply retroactively under Seoul’s plan.
- Defense commitments include reaffirmed U.S. extended deterrence and USFK presence, Seoul’s goal to raise defense spending to 3.5% of GDP, $25 billion in U.S. equipment purchases by 2030, $33 billion in support for USFK, and continued work toward OPCON transition.
- Implementation tasks remain as both sides identify avenues to source submarine fuel, engage on 123-agreement or regulatory adjustments and nonproliferation consultations, and address conflicting statements over where the submarines will be built.