South Korea says Trump welcomes progress on US investment projects

Seoul: South Korean President Lee Jae Myung and US President Donald Trump hailed substantial advancements in talks regarding crucial investment initiatives during an informal 30-minute conference preceding the UN General Assembly, as per Seoul's presidential office on Wednesday. The encounter transpired after South Korea's industry ministry presented lawmakers on Tuesday with execution strategies for the nation's $350 billion investment plan, encompassing a Texas gas-fired power plant as the initial projected venture, prospective investments in nuclear energy and an Alaska LNG project.

In alignment with the Joint Fact Sheet issued post their summit in November, Lee and Trump vowed to bolster collaboration and persist in deliberations concerning matters such as nuclear fuel enrichment and reprocessing, nuclear-powered submarines, shipbuilding, and the transfer of operational command from the US to South Korea, emphasized Wi Sung-lac, South Korea's national security adviser.

Trump also reiterated his readiness to engage in discourse with North Korea, with both leaders pledging to maintain frequent communication towards a peace process.

Lee expressed optimism about the US-China summit slated for Thursday, which he deemed vital for regional affairs, encompassing South Korea-China ties. He expressed hope for a fruitful meeting, as per Wi. The White House had not yet responded to the Trump-Lee meeting. On Friday, US Secretary of State Marco Rubio urged the rapid realization of South Korean investment pledges during a meeting with South Korean Foreign Minister Cho Hyun, according to the state department.

Earlier on Wednesday, Lee conveyed to the UN General Assembly South Korea's commitment to backing endeavors to rekindle dialogue with North Korea and strive for a lasting peace framework while soliciting global endorsement for these efforts. A senior presidential official disclosed to South Korean media that Lee had expressed to Trump his desire for the US president to facilitate engagement with North Korea, to which Trump affirmed his willingness.

The official revealed that Lee and Trump extensively discussed OPCON transfer, with Trump gaining insight into Seoul's stance. The US emphasized the necessity to meet predefined conditions and finalize the procedure as expeditiously as feasible, while South Korea outlined intentions to augment defense expenditure and hasten negotiations on Seoul's plans to create nuclear-powered submarines, as per the official.

The two sides agreed to hold subsequent consultations on the diverse issues in Washington at the earliest opportunity, the official stated. Progress in talks about South Korean investments in US projects had apparently facilitated the summit, which had not been anticipated initially. While the broader framework was nearly finalized, discussions remained ongoing on the specifics of the package and its announcement, the official reported.

Trump mentioned the possibility of golfing with Lee, who suggested they could play during a G20 summit in Miami in December, according to the official. They had previously deliberated playing golf during their meeting at the G7 summit in France in June.