South Korean President Lee Jae Myung announced on Friday that Seoul and Washington have completed a joint fact sheet outlining new agreements on trade, defence, and strategic cooperation, following his summit with U.S. President Donald Trump last month.
Speaking during a televised briefing, Lee said the two allies had sealed accords that will expand bilateral security ties, including U.S. support for South Korea’s development of nuclear-powered submarines.
The move marks a significant shift in South Korea’s defence posture as tensions remain elevated on the Korean Peninsula.
Lee also revealed that South Korea and the United States will establish new partnerships across shipbuilding, artificial intelligence, and the nuclear industry, describing the agreements as foundational to strengthening long-term economic and technological cooperation.
On trade, the president confirmed that Trump approved a deal reducing U.S. import duties on South Korean products to 15%, down from the previous 25%. The tariff cut is expected to boost South Korean exports and ease trade frictions between the two countries.
Lee met Trump in Gyeongju last month, where the two leaders discussed a wide range of issues, culminating in the newly finalised framework.
The joint fact sheet, Lee said, reflects both nations’ commitment to “deepening economic integration and reinforcing strategic stability” amid shifting global challenges.
Source: Reuters
Written By Rodney Mbua
