US-Korea Relations
South Korea and US agree to swiftly launch working groups on summit agreements
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South Korea and the United States have agreed to swiftly launch working groups to implement recent summit agreements, including nuclear-powered submarines and civil uranium enrichment rights. In their first high-level follow-up talks, both sides emphasized advancing trade, investment, and security cooperation. The agreement builds on the joint fact sheet from August and October summits.
U.S. Treasury Secretary Scott Bessent stated that the recent depreciation of the Korean won does not align with South Korea's strong economic fundamentals. During a meeting this week with Seoul's Finance Minister Koo Yun-cheol, he emphasized that excess volatility in the foreign exchange market is undesirable. The two sides discussed the full implementation of a bilateral trade and investment agreement.
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Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, attended a Christmas dinner hosted by U.S. Vice President J.D. Vance and met White House officials and business leaders. Ahead of the dinner, he visited the White House to discuss cooperation on U.S. AI export programs. Chung serves as Asia chairman of the Rockbridge Network, founded by Vance.