South Korea's Lee, Trump welcome progress in US strategic investment projects

South Korean President Lee Jae Myung and US President Donald Trump met briefly during the UN General Assembly, commending "significant progress" in their discussions on strategic investment projects, according to Seoul's presidential office. The two leaders were briefed on implementation plans for a $350 billion investment package, which included potential investments in nuclear energy and the Alaska LNG project.

During their summit last November, Lee and Trump committed to strengthening cooperation and further discussions on topics like nuclear fuel enrichment, nuclear-powered submarines, shipbuilding, and transferring operational control from the US to South Korea. Trump also reiterated his intention to engage with North Korea, and both leaders agreed to maintain close communication towards a peace process.

Lee emphasized the importance of the US-China summit on Thursday for regional developments, including South Korea-China relations, and expressed optimism for a successful meeting. Earlier that day, Lee told the UN General Assembly that Seoul would support North Korea dialogue efforts and strive for a durable peace framework while seeking global backing.

A presidential official revealed that Lee had expressed his hope to Trump for advancing engagement with North Korea, to which Trump agreed. The official also mentioned that both leaders spent much time discussing the OPCON transfer, with Trump gaining a better understanding of South Korea's position. The US side stressed the importance of meeting conditions and expediting the process, the media reports added.

Progress in talks on South Korean investments in US projects, which were not initially expected, reportedly paved the way for the summit. Trump is anticipated to personally announce Seoul's investment plans once an agreement is reached, according to South Korean media.