Overview
- A joint fact sheet confirms Seoul’s $350 billion investment pledge, including $150 billion for U.S. shipbuilding and $200 billion in strategic projects under an upcoming MoU.
- Washington will cut sectoral tariffs on Korean goods to 15% for autos, auto parts, timber, lumber, wood derivatives and intends no higher than 15% on pharmaceuticals.
- The United States approved South Korea’s plan to build conventionally armed, nuclear-powered attack submarines and will work with Seoul on requirements, including fuel sourcing.
- Seoul’s security adviser said talks proceeded on the premise the submarines will be built in South Korea, with U.S. assistance where needed, addressing prior speculation about U.S. construction.
- The fact sheet supports a process toward civil uranium enrichment and spent fuel reprocessing consistent with the bilateral 123 agreement, reaffirms extended deterrence and USFK presence, advances OPCON transition, and includes FX safeguards capping annual funding at $20 billion.