President Trump announced an agreement on Truth Social, stating that South Korea will invest $350 billion in projects in the U.S. The package includes $100 billion for the purchase of liquefied natural gas and energy products. Kim Yong-bom, head of the Korean government's policy department, confirmed that tariff reductions will apply to cars and other goods starting August 1.
The investment fund allocates $150 billion for shipbuilding, including the construction and maintenance of vessels. Another $200 billion is directed towards semiconductors, nuclear energy, secondary batteries, and biotechnology. These investments will be finalized at the upcoming summit between Presidents Trump and Lee Jae-myung.
South Korea successfully defended its agricultural interests despite U.S. pressure to open its market. The government maintained restrictions on rice and beef imports from cattle over 30 months old. Kim Yong-bom emphasized that food security has become the basis for refusing additional concessions in agriculture.