US, South Korea release details of deal including Korean investment in shipbuilding
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The U.S. and South Korea have detailed an agreement involving a $150 billion Korean investment in shipbuilding, approved by the U.S., and an additional $200 billion under a Memorandum of Understanding. The deal, following a meeting between Presidents Lee Jae Myung and Donald Trump, includes reduced U.S. import duties on South Korean products and approval for South Korea to build nuclear-powered submarines. This agreement is part of a broader trade deal announced in July, aimed at enhancing bilateral economic and defense cooperation.
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