South Korea, US release details of bilateral trade and security agreements

이재명 대통령이 14일 서울 용산 대통령실에서 한미 관세·안보 협상 '조인트 팩트시트'(공동 설명자료) 최종 합의를 발표하고 있다.[사진=연합뉴스]

SEOUL, November 14 (AJP) - South Korea and the U.S. have completed a joint fact sheet detailing the two countries' trade and security agreements, President Lee Jae Myung said during a press briefing on Friday.

"Trade negotiations and security consultations, the biggest variables affecting the country's national security and the economy, have finally been concluded," Lee said.

It comes about two weeks after Lee reached a tariff-related deal with U.S. President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju late last month.

The agreement includes Seoul's US$350 billion investment plan in the U.S., with $200 billion allocated to strategic industries and $150 billion to shipbuilding, in return for lowering reciprocal tariffs on cars, parts, and other products from 25 percent to 15 percent.

To minimize the impact on the foreign exchange market, the annual investment cap is set at $20 billion.

The fact sheet includes Washington's approval of South Korea's plan to build nuclear-powered submarines using U.S.-supplied fuel, as well as a U.S. commitment to support for reprocessing spent nuclear fuel and enriching uranium.

In a statement released by the White House, the U.S. said it "supports the process that will lead to [South Korea's] civil uranium enrichment and spent fuel reprocessing for peaceful uses."

The fact sheet also includes provisions regarding the continued presence of American forces here and the transfer of wartime operational control to South Korea during Lee's term.

* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
Choe In-hyeok 기자 inhyeok31@ajunews.com

- Copyright ⓒ [아주경제 ajunews.com] 무단전재 배포금지 -