White House: "South Korea Approves Nuclear Submarine Construction... 15% Tariff Cut on Automobiles" (Comprehensive)

Fact Sheet on South Korea-U.S. Alliance Released on Official Website
South Korea to Invest 350 Billion Dollars
Defense Spending to Increase to 3.5% of GDP
Support for Civilian Uranium Enrichment Rights

On November 13 (local time), the White House released a fact sheet stating, "South Korea has approved the construction of an attack nuclear-powered submarine, and we will work closely together, including on fuel procurement solutions." According to the bilateral agreement, the United States will lower itemized tariffs on South Korean automobiles to 15%, while South Korea will increase its defense spending to 3.5% of its gross domestic product (GDP). The fact sheet was finalized about four months after the two countries reached a trade agreement in July and subsequently negotiated the details.

Yonhap News Agency

350 Billion Dollar Investment Specified... 15% Tariff Reduction on Automobiles and Other Items

According to the fact sheet announced by the White House, as part of the trade agreement reached between the two countries in July, South Korea will invest 150 billion dollars in shipbuilding and 200 billion dollars in strategic investments. In return, the United States will reduce itemized tariffs by 15% on automobiles, auto parts, lumber, and other products. Tariffs on pharmaceuticals will also not exceed 15%, and for semiconductors, a major export item to the U.S., the agreement states, "South Korea will not be disadvantaged compared to any future agreements."

The White House also announced that the Lee Jaemyung administration has agreed to purchase 25 billion dollars (36 trillion won) worth of U.S.-made military equipment by 2030.

In terms of modernizing the South Korea-U.S. alliance, the United States reaffirmed the continued stationing of U.S. Forces Korea (USFK). It also reiterated its commitment to provide extended deterrence, including nuclear capabilities, in all categories. The two countries agreed to further strengthen cooperation through the Nuclear Consultative Group (NCG).

South Korea plans to swiftly increase its defense spending to 3.5% of GDP in accordance with legal requirements, and the United States welcomed this decision.

South Korea will purchase 25 billion dollars worth of U.S.-made military equipment by 2030 and shared a comprehensive support plan for USFK amounting to 33 billion dollars (48 trillion won). Additionally, the two countries will continue to cooperate on the transition of wartime operational control (OPCON), and South Korea agreed to strengthen its military capabilities needed to respond to North Korea with U.S. support.

The two countries also reaffirmed their commitment to expanding cooperation in artificial intelligence (AI) across cyber, space, and military sectors.

"South Korea and the United States Reaffirm Commitment to Complete Denuclearization of North Korea"

The leaders of South Korea and the United States agreed to work together for peace, security, and prosperity on the Korean Peninsula and in the Indo-Pacific region, and reaffirmed their commitment to the denuclearization of North Korea and the stability and peace of the Korean Peninsula. They also agreed to work together to implement the joint statement from the 2018 North Korea-U.S. Singapore Summit, which was agreed upon during the first Trump administration.

The two sides will closely coordinate their North Korea policy, urge North Korea to return to meaningful dialogue, and call on Pyongyang to comply with its international obligations, including abandoning its weapons of mass destruction and ballistic missile programs.

Regarding the Taiwan Strait issue, "The leaders of South Korea and the United States emphasized the importance of maintaining peace and stability across the region, encouraged the peaceful resolution of cross-strait issues, and opposed unilateral changes to the status quo." The opposition to unilateral changes is interpreted as a reference to China.

"Approval for Nuclear Submarine Construction... Support for South Korea's Civilian Uranium Enrichment and Reprocessing"

President Trump, through his social media platform Truth Social, specified that "the United States has approved South Korea's construction of an attack nuclear-powered submarine." He added, "The United States supports South Korea's pursuit of civilian uranium enrichment and spent nuclear fuel reprocessing for peaceful purposes, and will work closely with South Korea on solutions for fuel procurement."

However, the document did not specify the location or timing of the nuclear submarine construction. Previously, President Trump had mentioned that he hoped the construction would take place at the Philippine Shipyard acquired by Hanwha.

Additionally, the two countries agreed to further cooperation through a "shipbuilding working group" to strengthen collaboration in areas such as maintenance, repair, and overhaul (MRO), workforce development, shipyard modernization, and supply chain resilience. These efforts are expected to rapidly increase the number of U.S. naval vessels, including the potential for building U.S. ships in South Korea.

This content was produced with the assistance of AI translation services.