The White House on Thursday (November 13) released the joint statement from the US-Korea summit, approving South Korea’s plan to build a nuclear-powered submarine and supporting South Korea in obtaining uranium enrichment and spent fuel reprocessing capabilities.
The document published by the White House outlined the outcomes of the two summits held between US President Trump and South Korean President Lee in August at the White House and in October in Gyeongju, South Korea. The document covers various trade and security agreements between the US and South Korea.
According to the document, “In accordance with the bilateral ‘123 Agreement’ and following US legal requirements, the United States supports facilitating the Republic of Korea’s peaceful use of uranium enrichment and spent fuel reprocessing.” At the same time, “the United States has approved the Republic of Korea’s construction of nuclear-powered attack submarines.”
The US-Korea ‘123 Agreement’ is a civil nuclear energy cooperation agreement named after Section 123 of the US Atomic Energy Act. The agreement originally prohibited South Korea from uranium enrichment and spent fuel reprocessing activities, allowing nuclear energy only for ‘peaceful’ purposes. This time, the US has specially approved South Korea to conduct uranium enrichment and spent fuel reprocessing activities for peaceful purposes.
For years, South Korea has been seeking to amend the ‘123 Agreement’ to acquire rights for uranium enrichment and spent fuel reprocessing. The agreement’s limits on uranium enrichment have restricted the acquisition of highly enriched uranium needed for nuclear submarines. Observers suggest that Seoul and Washington may need to revise the agreement or make alternative arrangements for South Korea to acquire the capability to operate nuclear-powered submarines.
It is reported that South Korea plans to acquire four or more conventional armed nuclear-powered submarines of over 5,000 tons by the mid-2030s.
The official US support for South Korea’s construction of nuclear-powered submarines signals a crucial advancement for South Korea in addressing the North Korean nuclear threat. The Trump administration is urging allies in the Indo-Pacific region to enhance their capabilities to counter the “primary threat” posed by China.
The document states that both leaders agreed to strengthen US deterrence against “all regional threats,” including conventional deterrence against North Korea, while also suggesting that the US hopes South Korea will take action in deterring the Chinese threat. The document also confirms that both sides acknowledge the related understandings reached since 2006.
The 2006 Joint Statement mentioned “strategic flexibility,” which refers to the US’s desire for US Forces Korea (USFK) not only to defend the Korean Peninsula but also to participate in various military contingencies related to China, including possible conflicts involving Taiwan.
The document from 2006 indicated that South Korea recognized the necessity of “strategic flexibility,” while the US respected South Korea’s position that it would not engage in regional conflicts contrary to the will of its people.
In terms of defense, the document highlights the US’s emphasis on maintaining the presence of USFK through a “durable troop presence” to fulfill its defense commitments to allies in response to speculations about possible US troop withdrawals or reductions.
The document confirms that South Korea will expeditiously increase defense spending to 3.5% of its Gross Domestic Product (GDP) in accordance with legal provisions.
According to the document, South Korea has committed to investing $25 billion in purchasing US military equipment by 2030 and providing a comprehensive support program worth $33 billion for USFK.
The US also reiterated its commitment to protect allies with comprehensive military capabilities, including nuclear weapons, to expand deterrence against potential threats. Trump and Lee pledged to strengthen bilateral cooperation through mechanisms such as the Nuclear Consultative Group (NCG).
Furthermore, both US and South Korean leaders agreed to expedite the transfer of Operational Control (OPCON) during wartime to South Korea, with the South Korean government planning to achieve this goal before Lee’s term ends in 2030.
The document states, “With US support, the Republic of Korea pledges to accelerate the enhancement of military capabilities to lead joint conventional defense against North Korea.” “This includes acquiring advanced US weapon systems and expanding bilateral defense industry cooperation, including in the realm of high-tech weapon systems.”
During the Korean War from 1950 to 1953, command of Korean forces was transferred to the US-led United Nations Command. In 1978, operational control was transferred to the South Korea-US Combined Forces Command. South Korea gained peacetime operational control in 1994, but wartime operational control remains with the US.
In terms of trade, South Korea has pledged to invest $350 billion in the US in exchange for the US reducing tariffs in sectors such as automobiles, automotive parts, and lumber from 25% to 15%.
If the US imposes tariffs on foreign drugs in the future, South Korea’s drug tax rate will not exceed 15%.
The document also states that if the US reaches new chip and semiconductor trade agreements with other countries or regions, covering a trade volume equivalent to that of South Korea, the US’s treatment of chip and semiconductor tariffs for South Korea will be “no less favorable than” that provided in the agreement.
The bilateral US-Korea agreement will resolve non-tariff barriers set by South Korea for food and agricultural product trade to promote reciprocal trade, with measures including establishing a US horticultural products line, ensuring US meat and dairy market access, streamlining approval processes for agricultural biotechnology products, and resolving pending applications.
Furthermore, both sides pledged to ensure that US companies are not discriminated against or subject to unnecessary restrictions in digital services-related laws and policies (including network usage fees and online platform regulations).
The document clarifies that South Korea has committed to investing $150 billion in the US shipbuilding industry and making strategic investments in the US worth $200 billion based on a US-Korea Memorandum of Understanding on investments. Considering the impact of South Korea’s investments on the foreign exchange market, both parties agree that South Korea’s annual cash investment limit in the US will not exceed $20 billion and can request adjustments to the fundraising amount and timeline.
This joint document is the first high-level official document since Lee’s inauguration.
(This article referenced reports from the Korean news agency)