President Lee Jae Myung states that Korea has obtained U.S. backing to enhance Seoul's control over uranium enrichment and the reprocessing of spent nuclear fuel.
He characterized the progress as a major advancement as the country aims to create its first nuclear-powered submarine.
"Korea and the United States have reached an agreement to advance the development of nuclear-powered submarines, a historical objective for Korea and a vital strategic resource considered crucial for maintaining peace and stability on the Korean Peninsula," Lee states.
"Additionally, both parties will investigate institutional modifications that would enable not just U.S. commercial vessels but also U.S. Navy ships to be constructed in Korea," he mentioned, describing the action as a basis for both countries to enhance their shipbuilding sectors.
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Although Lee did not promptly specify if Korea's nuclear submarine would be constructed at a Korean shipyard or in the U.S., National Security Advisor Wi Sung-lac affirmed in a subsequent briefing that it would be built in Korea.
During the discussions, the construction of our nuclear submarine in the U.S. was not addressed." Wi stated that the prerequisite for all discussions between the two leaders was that Korea's nuclear submarine would be constructed in Korea. Our appeal for U.S. collaboration aimed at obtaining access to nuclear fuel."
The chief security official mentioned that there could be some cooperation with Washington throughout the construction phase, but the entire project will rely on the submarine being produced domestically.
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The joint fact sheet detailing bilateral agreements on tariffs and security comes after two summits between Lee and U.S. President Donald Trump, with the latest occurring on Oct. 29 during the Asia-Pacific Economic Cooperation summit in Korea.
At the summit, Trump approved South Korea's construction of a nuclear-powered submarine, noting that the ship would be built at shipyards in Philadelphia.
In the meantime, Lee highlighted that the collaborative document reaffirmed Washington’s dedication to sustaining the presence of U.S. Forces Korea (USFK) and to facilitating the transfer of wartime operational control, referred to as OPCON, back to Seoul.
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"The president stated that Korea reinforced its commitment to spearheading the defense of the Korean Peninsula by enhancing its defense capabilities and shifting wartime operational control, while Washington showed firm backing for these initiatives."