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South Korea said Friday it will “move forward” with the United States on building nuclear-powered submarines after the two allies finalized a major security and trade agreement.
President Lee Jae Myung said the agreement settled negotiations on trade, tariffs and security, confirming that Washington approved Seoul’s plan to build nuclear-powered submarines.
He said South Korea also secured support to expand its authority over uranium enrichment and spent-fuel reprocessing.
A joint fact sheet said both sides will collaborate through a shipbuilding working group to increase the number of U.S. commercial ships and combat-ready military vessels.
U.S. President Donald Trump previously said the submarines would be built at the Philadelphia Shipyards, but South Korea’s national security adviser Wi Sung-lac said discussions between the leaders assumed construction would occur in South Korea.
He said the issue is now “considered settled.”
South Korea pledged to buy $25 billion in U.S. military equipment and provide $33 billion in support for U.S. Forces Korea.
Seoul said a $350-billion agreement includes $200 billion in cash investment and $150 billion in shipbuilding cooperation, with the U.S. lowering auto tariffs from 25% to 15%.
The fact sheet added that South Korea’s semiconductor tariffs will be no less favorable than the terms in any future trade agreement involving similar volumes.
China warned that the submarine partnership goes beyond commercial cooperation and affects the global non-proliferation regime and regional stability.
North Korea has not commented.
Experts said the U.S. decision marks significant progress in the alliance and would boost South Korea’s naval capabilities, as the country aims to operate nuclear-powered submarines by the mid-2030s.
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