South Korea and U.S. Forge New Trade and Security Partnership

South Korean President Lee Jae Myung announced finalized agreements on trade and security with the U.S. after meeting President Donald Trump. Key highlights include building nuclear-powered submarines, a shipbuilding partnership, and reduced U.S. import duties on South Korean products from 25% to 15%.

In a significant development, South Korean President Lee Jae Myung revealed that his country's summit with the United States has resulted in finalized trade and security agreements. The announcement came following discussions between President Lee and U.S. President Donald Trump in Gyeongju last month.

The agreements focus on enhancing both nations' industrial capabilities, with South Korea set to commence the construction of nuclear-powered submarines. Additionally, the two countries have pledged to collaborate on advancements in shipbuilding, artificial intelligence, and the nuclear industry, President Lee detailed in a televised briefing.

Another key aspect of the deal is the reduction of import duties imposed by the U.S. on South Korean products, from 25% to a more favorable 15%, which aims to boost trade relations and economic growth between the two nations.

(With inputs from agencies.)