White House releases joint fact sheet on Korea-U.S. trade and defense talks

The White House posted the joint fact sheet between the Korea-U.S. trade and defense talks between U.S. President Donald Trump and Korean President Lee Jae Myung on its website on Thursday.

The joint fact sheet on President Donald Trump and President Lee Jae Myung's meeting, posted on the White House website on Nov. 13. [SCREEN CAPTURE]

The White House posted the joint fact sheet between the Korea-U.S. trade and defense talks between U.S. President Donald Trump and Korean President Lee Jae Myung on its website on Thursday.

“In light of President Trump’s historic 2024 victory and President Lee’s election demonstrating the ROK’s democratic strength and resilience, they declared a new chapter in the U.S.-ROK Alliance, the linchpin for peace, security and prosperity on the Korean Peninsula and in the Indo-Pacific region,” said the White House, referring to Korea by its official name, the Republic of Korea (ROK).

The fact sheet said that the two presidents “reaffirmed the historic announcement in July of The Korea Strategic Trade and Investment deal,” adding that both leaders “welcome Korean investments in various sectors to advance economic and national security interests, including but not limited to shipbuilding, energy, semiconductors, pharmaceuticals, critical minerals and artificial intelligence/quantum computing.”

The post also said that they “have reached a mutual understanding that commitments in the MOU shall not be allowed to give rise to market instability,” adding that “the ROK shall not be required to fund an aggregate amount of U.S. dollars greater than $20 billion in any calendar year.”

The fact sheet also said “Should it appear that the fulfillment of the commitments in the MOU may cause market instability, such as disorderly movements of Korean won, the ROK may request an adjustment in the amount and timing of the funding, and the United States will, in good faith, give due consideration to such request.”

The post also outlined the commitment to “modernizing the U.S.-ROK alliance” saying that “the United States reaffirmed its pledge to provide extended deterrence, leveraging the full range of its capabilities, including nuclear,” adding that “the two leaders committed to continue alliance cooperation toward the transition of wartime operational control.”

The fact sheet concluded by summarizing the details of the “maritime and nuclear partnership” between the two countries, saying that “both countries committed to collaborate further through a shipbuilding working group, including on maintenance, repair, and overhaul, workforce development, shipyard modernization and supply chain resilience.”

“The United States has given approval for the ROK to build nuclear-powered attack submarines,” said the fact sheet. "The United States will work closely with the ROK to advance requirements for this shipbuilding project, including avenues to source fuel."

BY KIM MIN-YOUNG [kim.minyoung5@joongang.co.kr]