South Korea-US $350 Billion Investment Talks Advance

South Korean President Lee Jae Myung and US President Donald Trump have welcomed significant progress in discussions on strategic investment projects, according to Seoul’s presidential office, as the two countries work to advance a $350 billion investment package and strengthen cooperation on security and industrial issues.

The leaders held a 30-minute meeting on the sidelines of the United Nations General Assembly on September 23, 2026. Their discussions covered investment commitments, nuclear energy, shipbuilding, North Korea and the transfer of wartime operational control from the United States to South Korea.

The meeting comes as Seoul outlines plans to implement its investment commitments, including potential projects in Texas, nuclear energy and liquefied natural gas infrastructure in Alaska. However, details of the investment package remain under discussion.

Trump and Lee Welcome Progress on Strategic Investment Projects

South Korea’s presidential office said Lee and Trump welcomed significant progress in discussions on strategic investment projects between the two countries.

National Security Adviser Wi Sung-lac provided the details during a briefing following the meeting, which took place alongside the UN General Assembly.

The discussions followed earlier work on implementing the countries’ $350 billion investment package. South Korea’s Industry Ministry briefed lawmakers on Tuesday about plans for putting the commitments into effect.

The investment discussions formed an important part of the leaders’ meeting, although officials indicated that negotiations over the package’s specific details and announcement arrangements were continuing.

South Korea’s $350 Billion US Investment Package Explained

The investment package represents a major area of economic cooperation between South Korea and the United States. Its implementation involves identifying strategic projects and determining how investment commitments will be carried out.

According to the South Korean Industry Ministry’s briefing, a gas-fired power project in Texas has been identified as a potential first investment. Possible investments in nuclear energy and an Alaska liquefied natural gas project are also being considered.

These projects indicate the range of industries involved in the discussions, from energy infrastructure to technologies and industrial capabilities with strategic importance for both countries.

Potential Projects Under Discussion

The distinction between a potential investment and a finalized project is important. The reported discussions indicate progress, but the supplied information does not establish that all projects have received final approval or that investment funds have already been deployed.

Why the Investment Package Matters to US-South Korea Relations

Economic cooperation is closely connected to the broader relationship between Seoul and Washington. The investment discussions are taking place alongside negotiations on defence, energy and industrial cooperation.

For South Korea, the package provides a framework for pursuing strategic investments in the United States. For Washington, the implementation of Seoul’s commitments is an issue that US officials have emphasized in diplomatic discussions.

US Secretary of State Marco Rubio called for the swift execution of South Korean investment commitments during a meeting with South Korean Foreign Minister Cho Hyun on Friday, according to the US State Department.

The September 23 meeting between Lee and Trump therefore took place against a backdrop of continued diplomatic engagement over how the commitments will be implemented.

Leaders Discuss Nuclear Energy and Nuclear-Powered Submarines

Lee and Trump also agreed to deepen cooperation and continue discussions on several strategic issues, based on the joint fact sheet issued after their summit last November, Wi said.

Among the topics were nuclear fuel enrichment and reprocessing, nuclear-powered submarines, shipbuilding and the transfer of wartime operational control from the United States to South Korea.

These subjects involve different aspects of the bilateral relationship, including energy technology, defence capabilities and the future organization of military command responsibilities.

The leaders’ agreement to continue discussions indicates that these matters remain part of the ongoing diplomatic agenda. The supplied report does not announce a finalized agreement on each issue.

South Korea Seeks Progress on Wartime Operational Control Transfer

The transfer of wartime operational control, commonly referred to as OPCON, was another major subject during the meeting.

South Korean officials have sought to advance discussions on transferring wartime operational control from the United States to South Korea. According to reports cited by Reuters, a senior presidential official said the issue received considerable attention during the talks.

The official said Trump gained a better understanding of Seoul’s position, while the US side emphasized that the necessary conditions must be met and that the process should be completed as soon as possible.

The South Korean side also outlined plans to increase defence spending, according to the official.

The discussions highlight the continuing importance of military coordination and defence planning in the US-South Korea relationship. However, the report does not provide a finalized timetable for completing the transfer.

South Korea Wants to Accelerate Nuclear-Powered Submarine Discussions

South Korea also expressed a desire to accelerate talks on its plans to develop nuclear-powered submarines, according to the senior presidential official cited in the Reuters report.

The issue was discussed alongside wider defence cooperation and the transfer of wartime operational control.

Nuclear-powered submarines were among the strategic subjects identified in the joint fact sheet issued after the leaders’ summit last November. Lee and Trump agreed to continue discussions on the matter.

The latest meeting therefore reflects continued engagement on a subject that remains part of the countries’ broader security agenda. No finalized submarine development agreement was announced in the supplied report.

Trump Reaffirms Willingness to Engage With North Korea

North Korea was another important topic during the meeting. Wi said Trump reaffirmed his willingness to engage in dialogue with Pyongyang, while the two leaders agreed to remain in close communication in pursuit of a peace process.

Earlier on Wednesday, Lee addressed the UN General Assembly and said South Korea would support efforts to revive dialogue with North Korea and work toward a durable peace framework.

Lee also sought broader international support for those efforts.

A senior South Korean presidential official separately told local media that Lee had asked Trump to help advance engagement with North Korea. According to the official, Trump responded that he would do so.

Trump’s Relationship With Kim Jong Un

The senior official also said Trump remarked that he maintained a good relationship with North Korean leader Kim Jong Un.

However, the media reports cited by Reuters provided no indication that specific contact between Trump and Kim was currently taking place.

The distinction is significant because a stated willingness to engage does not establish that negotiations have resumed or that a new diplomatic initiative has been formally agreed.

For now, the reported discussions point to continued interest in dialogue, while the practical steps toward renewed engagement remain unclear.

Lee Says US-China Summit Could Affect Regional Relations

Lee also discussed the upcoming US-China summit scheduled for Thursday, September 24, according to Wi.

The South Korean president said the meeting would be important for regional developments, including relations between Seoul and Beijing, and expressed hope that it would be successful.

South Korea’s position reflects the regional significance of relations between Washington and Beijing. Developments involving the two major powers can affect the diplomatic environment in which Seoul manages its own international relationships.

However, the supplied report does not establish what outcomes the US-China summit will produce or how those outcomes will affect South Korea-China relations.

Investment Progress Helped Pave the Way for the Meeting

A senior South Korean presidential official told local media that progress in discussions over investments in US projects helped pave the way for the Lee-Trump meeting.

The official said the summit had not initially been expected to take place. Both leaders had been briefed on the negotiations and welcomed the progress, while discussions continued over the package’s details and how it would be announced.

The official described the broader framework as almost complete, while indicating that further work remained.

This suggests that the investment discussions were an important element in arranging the meeting, although the report does not establish that they were its only purpose.

South Korea and US Plan Follow-Up Consultations in Washington

The two countries agreed to hold follow-up consultations in Washington as soon as possible, according to the senior South Korean official cited in the Reuters report.

The consultations are expected to address the range of issues discussed by the leaders, including investment commitments, defence cooperation, nuclear-powered submarines and wartime operational control.

Further talks will be important for clarifying which proposals move forward, what conditions apply and how the two governments intend to implement their commitments.

The report does not provide a specific date for the follow-up consultations.

Trump and Lee Discuss Playing Golf at the G20 Summit

Alongside the diplomatic and economic discussions, Trump raised the possibility of playing golf with Lee.

According to the senior South Korean presidential official, Lee suggested that the two leaders could play golf on the sidelines of the G20 summit in Miami in December.

The leaders had previously discussed playing golf during their meeting at the G7 summit in France in June.

The reported exchange adds a personal element to their diplomatic engagement, but the supplied information does not confirm that a golf meeting has been formally scheduled.

What Happens Next in US-South Korea Strategic Cooperation?

The September 23 meeting highlighted progress in investment discussions while keeping several economic and security issues on the bilateral agenda.

The immediate focus will be on the implementation of the $350 billion investment package, including the potential Texas gas-fired power project and possible investments in nuclear energy and Alaska LNG infrastructure.

Further consultations are also expected to address defence cooperation, nuclear-powered submarines and the transfer of wartime operational control.

On North Korea, both leaders expressed support for continued communication and dialogue, but the supplied report does not establish that negotiations with Pyongyang have resumed.

The upcoming US-China summit may also be relevant to South Korea’s regional diplomatic priorities, although its eventual implications remain uncertain.

US-South Korea Relations: Progress With Details Still Under Discussion

South Korean President Lee Jae Myung and US President Donald Trump have welcomed progress on strategic investment projects as their governments work to advance a $350 billion investment package.

Their meeting also covered a broad range of issues, including nuclear energy, shipbuilding, nuclear-powered submarines, military command arrangements and efforts to revive dialogue with North Korea.

Although the broader investment framework was described by a South Korean official as almost complete, important details remain under discussion. Potential projects have been identified, but the supplied report does not confirm that all investments have been finalized.

The next stage will depend on follow-up consultations and decisions by both governments about how to translate the discussions into specific commitments and actions.