Home > National > Diplomacy

Trump claims deal struck with Korea will bring over $600B in investment to U.S.

Published: 30 Oct. 2025, 11:01 Updated: 30 Oct. 2025, 18:02

Korean President Lee Jae Myung, right, talks with U.S. President Donald Trump ahead of their summit at the Gyeongju National Museum in North Gyeongsang on Oct. 29. [PRESIDENTIAL OFFICE]

WASHINGTON — U.S. President Donald Trump claimed Wednesday that Korea has agreed to pay $350 billion to the United States in exchange for tariff reductions, and that investments by Korean companies in the United States will eventually exceed $600 billion.

Trump also said he had approved Korea’s construction of nuclear-powered submarines, which would be built at the Philly Shipyard in Philadelphia.

"South Korea has agreed to pay the USA 350 Billion Dollars for a lowering of the Tariff’s [sic] charged against them by the United States,” Trump wrote in a post on his Truth Social account on Wednesday. “Additionally, they have agreed to buy our Oil and Gas in vast quantities, and investments into our Country by wealthy South Korean Companies and Businessmen will exceed 600 Billion Dollars.”

During the Korea-U.S. summit held in Gyeongju, North Gyeongsang, on Wednesday, the two sides agreed on a $350 billion investment package in the United States. The package includes $200 billion in direct cash investments and $150 billion for a shipbuilding partnership dubbed “MASGA” — short for “Make American Shipbuilding Great Again.”

The $200 billion in direct investment is to be made gradually, with an annual cap of $20 billion depending on the progress of projects, according to officials.

Trump’s statement that Korea “agreed to pay” $350 billion appears to refer to this investment package. Until recently, he had repeatedly insisted that Korea make the payment upfront, but he did not use the term in Wednesday’s post.

Korean President Lee Jae Myung, right, and U.S. President Donald Trump attend a welcome ceremony for the U.S. leader ahead of their talks at the National Museum in Gyeongju, North Gyeongsang, on Oct. 29. [YONHAP]

The $600 billion figure cited by Trump appears to be an aggregate estimate that includes multiple commitments: a $100 billion plan to purchase U.S.-produced liquefied natural gas announced during President Lee Jae Myung’s visit to the United States in August; $150 billion in new investment pledges announced by Korean conglomerate leaders at the Korea-U.S. Business Roundtable at the time; and several multibillion-dollar investment deals disclosed by the White House in a fact sheet released on Wednesday.

A Korean government official, however, downplayed Trump’s figures, saying, “The $600 billion investment number is not a formally documented figure. It seems to be one of President Trump’s characteristic exaggerations.”

"Our Military Alliance is stronger than ever before and, based on that, I have given them approval to build a Nuclear Powered Submarine rather than the old-fashioned and far less nimble diesel-powered Submarines that they have now,” Trump said.

President Lee had requested such approval during their summit on Tuesday, asking that Korea be allowed access to nuclear fuel for submarines. Trump’s remarks were widely interpreted as a direct response to that request.

Korean President Lee Jae Myung, right, gestures to U.S. President Donald Trump to take a seat ahead of their talks at the Gyeongju National Museum in Gyeongju, North Gyeongsang, on Oct. 29. [YONHAP]

In a follow-up post, Trump added that "Shipbuilding in our Country will soon be making a BIG COMEBACK," Trump wrote. "Stay tuned!!!"

The Philly Shipyard — formerly the Navy’s main shipbuilding facility — holds symbolic importance in the so-called MASGA Project. Hanwha Ocean acquired the aging yard for $100 million last year and has since announced plans to use it as a base for expanding its shipbuilding operations in the United States.

During his keynote speech at the APEC CEO Summit at the Gyeongju Arts Center on Wednesday, Trump also praised Hanwha’s acquisition of the shipyard, saying that it’s going to become the most successful shipyard in the world.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM HYOUNG-GU [[email protected]]