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White House Approves South Korea's Nuclear Submarine Project
The White House released a factsheet on the 13th regarding the trade agreement between South Korea and the U.S., which was finalized after the summit between President Lee Jae-myung and U.S. President Donald Trump held in Gyeongju, North Gyeongsang Province, last month. This is the first formal document issued between South Korea and the U.S. since the start of the Lee Jae-myung administration, following the broad trade agreement reached in July and ongoing discussions on specific details. The White House stated, “The U.S. has approved South Korea’s development of attack-type nuclear submarines,” and added, “We will work closely together, including in terms of fuel supply plans.” The agreement involves reducing sector-specific tariffs on South Korean vehicles to 15% and South Korea's pledge to increase defense spending to 3.5% of its gross domestic product (GDP).
As per the factsheet issued by the White House, “Building upon Trump's historic 2024 re-election and President Lee's success, which highlighted the strength of South Korean democracy, the two leaders announced a new era in the South Korea-U.S. alliance, a crucial element for peace, security, and economic growth on the Korean Peninsula and throughout the Indo-Pacific region.” Concerning the trade deal unveiled in July, South Korea committed to investing $150 billion in shipbuilding and $200 billion in strategic projects in return for the U.S. lowering specific sector tariffs on cars, auto components, and lumber to 15%. Nevertheless, investments under the memorandum of understanding (MOU) were limited to $20 billion each year to maintain stability in the foreign exchange market. Tariffs on medicines were also set to not surpass 15%, and regarding semiconductors—a major export to the U.S.—the agreement noted, “We will ensure that future agreements do not put South Korea at a disadvantage.”
In the realm of security, the White House reiterated, "The U.S. has reaffirmed its commitment to defend South Korea through the ongoing presence of U.S. forces." It pledged to enhance collaboration, including the Nuclear Consultative Group (NCG) initiated during the previous administration of President Yoon Suk Yeol, and noted, "The U.S. reaffirmed its commitment to offer extended deterrence, including nuclear capabilities." President Lee outlined plans to raise defense spending to 3.5% of GDP as soon as possible and agreed to acquire $25 billion in military equipment from the U.S. by 2030. Furthermore, U.S. forces stationed in South Korea will receive a total of $33 billion in comprehensive support. Concerning the transfer of wartime operational control during Lee's tenure, the document stated, "With U.S. support, South Korea will speed up efforts to enhance military capabilities required to lead combined conventional defense against North Korea."
South Korean and U.S. leaders reaffirmed their dedication to "collaborating for peace, security, and prosperity on the Korean Peninsula and in the Indo-Pacific" and restated their determination for North Korea's total nuclear disarmament and stability in the region. The Trump administration consistently used the phrase "complete denuclearization of North Korea" during its tenure. It also mentioned, "We will work together to implement the 2018 Singapore Summit joint statement between the U.S. and North Korea," encouraging North Korea to return to "substantive dialogue." Although South Korea, the U.S., and Japan agreed to enhance cooperation, there was no reference to the "Camp David" agreement made under the Biden administration. On the Taiwan Strait issue, the leaders highlighted, "The significance of preserving peace and stability in the region, promoting a peaceful resolution of the cross-strait issue, and opposing unilateral changes to the status quo." The phrase "opposing unilateral changes to the status quo" is directed at Chinese dominance. The statement also reconfirmed, "Efforts to protect freedom of navigation and air passage, as well as other legitimate uses of the sea, and affirmed that all nations' maritime claims must adhere to international law."
Concerning the nuclear submarine endorsed by Trump on his social media site "Truth Social" last month, the document mentioned, "The U.S. has given approval for South Korea to build attack-type nuclear submarines." It further noted, "The U.S. backs South Korea's peaceful utilization of uranium enrichment and spent nuclear fuel reprocessing and will work closely together, including regarding fuel supply strategies." Although Trump had previously shown interest in having the submarines constructed at Hanwha Ocean Shipyard in Philadelphia, the document did not mention the specific construction site or terms. It also said, "The two nations agreed to explore further collaboration through a shipbuilding working group in areas such as maintenance, repair, workforce training, shipyard upgrades, and supply chain security. These initiatives may involve the possibility of constructing U.S. vessels in South Korea to quickly boost the number of U.S. ships."
The factsheet also contained many elements that could be viewed as "complaints" from American businesses. On the topic of non-tariff barriers, which the U.S. Trade Representative (USTR) and others have strongly condemned, it noted, “We will record mutual commitments to promote trade and implementation plans, to be adopted by the South Korea-U.S. Joint Committee by the end of the year.” This involves lowering regulatory burdens for U.S. vehicles, addressing non-tariff obstacles for food and agricultural goods, and South Korea's joining the Patent Cooperation Treaty (PCT). Furthermore, referencing laws and policies concerning digital services, such as network usage charges and online platform regulations, it promised, “We will ensure that U.S. companies are not treated unfairly or encounter unnecessary obstacles and will support cross-border data flows, including location and personal information.” These issues have been longstanding concerns for major U.S. technology firms.
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