Key facts
- South Korea expects security talks with the U.S. to accelerate following the announcement of major Korean investment projects.
- South Korea plans to invest $200 billion in the U.S., part of a $350 billion commitment agreed upon last year.
- The investment includes $54 billion toward the Alaska LNG project.
- South Korea is pursuing rights for uranium enrichment and spent nuclear fuel reprocessing.
- Seoul aims to launch its first nuclear-powered submarine in the mid-2030s.
South Korea anticipates that security consultations with the United States will gain momentum following the formal announcement of significant Korean investment projects in the U.S., according to the Ministry of Foreign Affairs on Thursday.
U.S. President Donald Trump revealed details of South Korea's planned $200 billion investment in the U.S. on Wednesday (U.S. time). This investment is part of a larger $350 billion commitment that was agreed upon by both nations last year in exchange for reduced U.S. tariffs on Korean goods. The framework for this agreement was laid out in a joint fact sheet issued in November, following an October summit between President Lee Jae Myung and Trump. That summit also addressed security-related issues, including South Korea's ambition to develop nuclear-powered submarines and its efforts to secure rights for uranium enrichment and spent nuclear fuel reprocessing.
During their most recent meeting in New York, held on the sidelines of the U.N. General Assembly, the leaders agreed to accelerate discussions on all pending issues outlined in the joint fact sheet, including security matters. Ministry spokesperson Park Doo-soon stated that, given this shared understanding, Seoul hopes for continued progress in security consultations and other outstanding issues through close communication.
South Korea is seeking to revise its civil nuclear cooperation agreement, known as the 123 Agreement, which currently requires U.S. consent for uranium enrichment or spent nuclear fuel reprocessing. A second round of security consultations on this matter was initially planned for July but has not yet been scheduled. Additionally, the government aims to launch its first nuclear-powered submarine by the mid-2030s and deploy it by the late 2030s. First Vice Foreign Minister Park Yoon-joo previously indicated to lawmakers that investment issues are "closely linked to security matters," and that Seoul is making necessary requests to the U.S. while adopting a comprehensive approach to commercial cooperation negotiations.