S. Korea, US ink three hundred fifty-billion-dollar investment pledge
The memorandum of understanding (MOU) was signed electronically by South Korea’s Industry Minister Kim Jung-kwan and US Commerce Secretary Howard Lutnick. The agreement follows trade discussions during US President Donald Trump’s recent visit to Seoul, where both sides settled on key terms.
Under the pact, South Korea will invest $200 billion through annual installments capped at $20 billion, along with $150 billion dedicated to bilateral shipbuilding cooperation. In return, the US will lower reciprocal tariffs on South Korean imports to 15%, in line with prior agreements made in July.
Separately, the US approved South Korea’s plans to build nuclear-powered submarines, pledging close collaboration on the shipbuilding project, including fuel sourcing. Reports also indicate ongoing discussions about joint development of nuclear submarines, potentially involving Korean-led production across facilities in both countries. The plan may start with US-class submarines before transitioning to indigenous South Korean designs.
No official statement has yet been released by Washington or Seoul regarding the details reported on the joint submarine project.
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