President Lee Jae-myung announced on Friday that South Korea has secured US support to expand its authority over spent nuclear fuel reprocessing and uranium enrichment. This marks a significant step toward building Korea's first nuclear-powered submarine, stemming from a joint fact sheet agreed upon during the October 29 APEC summit with US President Donald Trump. The two nations also committed to strengthening trade and security ties.
President Lee Jae-myung stated during a televised briefing on Friday that South Korea and the United States have agreed to proceed with nuclear-powered submarine construction. He described it as "a long-standing goal for Korea and a strategic asset deemed essential for peace and stability on the Korean Peninsula." The agreement includes US support for reprocessing spent nuclear fuel and civil uranium enrichment for peaceful uses.
The joint fact sheet indicates that the US has approved South Korea to build nuclear-powered attack submarines and will cooperate on related requirements, including fuel sourcing avenues. According to The Korea Times, Trump granted approval for construction at shipyards in Philadelphia, though Lee did not specify whether it would occur in a Korean or US yard. The two sides will explore institutional changes to allow US commercial vessels and even Navy ships to be built in Korea.
On security, South Korea plans to provide comprehensive support for the US Forces Korea (USFK) amounting to $33 billion and commits to spending $25 billion on US military equipment purchases by 2030. The US supports South Korea's commitment to regaining wartime operational control (OPCON) from Washington. Trade elements include South Korea's $350 billion investment pledge in exchange for the US lowering tariffs on Korean goods from 25 percent to 15 percent.
The fact sheet, released by the White House on November 14, follows two bilateral summits, the latest on October 29 at the APEC summit in South Korea. Prior delays stemmed from coordination among US agencies on security matters.