Key facts
- South Korean Foreign Minister Cho Hyun and U.S. Secretary of State Marco Rubio will meet in Washington this week.
- The meeting is scheduled for Friday, U.S. time.
- South Korea plans to announce its first U.S.-bound investment project this week.
- The investment commitment totals $350 billion in return for lower U.S. tariff rates.
- Discussions will include South Korea's potential role in securing the Strait of Hormuz.
- North Korean issues are also on the agenda.
South Korean Foreign Minister Cho Hyun and U.S. Secretary of State Marco Rubio are set to hold bilateral talks in Washington this week, with discussions expected to focus on economic cooperation and regional security. The meeting, scheduled for Friday, will be the first formal face-to-face discussion between the two diplomats since February.
Key agenda items include South Korea's anticipated unveiling of its first U.S.-bound investment project, valued at $350 billion, which was agreed upon following a summit between South Korean President Lee Jae Myung and U.S. President Donald Trump. This investment is part of an agreement that also involves security arrangements and potential revisions to the Korea-U.S. nuclear energy agreement, known as the 123 Agreement, to allow for uranium enrichment and spent fuel reprocessing by South Korea. Discussions may also cover Seoul's development of nuclear-powered submarines.
Furthermore, the two sides are expected to address South Korea's potential contribution to securing the Strait of Hormuz amid U.S. pressure for international efforts to ensure freedom of navigation in the strategic waterway. Seoul has not yet made a decision on deploying military assets to the region, as stated by Cho to his Iranian counterpart last week.
North Korean issues are also slated for discussion, with President Trump reportedly interested in re-engaging with North Korean leader Kim Jong-un this year. A South Korean ministry official noted the necessity of in-person meetings to coordinate on a range of pending economic and security matters.