South Korea says Trump welcomes progress in US strategic investment projects

By Kyu-seok Shim and Heejin Kim

SEOUL, Sept 23 (Reuters) - ‌South Korean President Lee ​Jae Myung and ​US President Donald Trump welcomed "significant progress" in discussions on strategic investment projects during a 30-minute meeting on the sidelines of the UN General Assembly, Seoul's presidential office said on Wednesday.

The meeting came after South Korea's Industry Ministry briefed lawmakers on ‌Tuesday on implementation plans under the countries' $350 billion investment package, including a Texas gas-fired power project identified as a ⁠potential first investment, as well as possible investments in nuclear energy and an Alaskan LNG project.

"The two leaders welcomed the significant progress made in discussions on strategic investment projects ‌between the two countries," National Security Adviser ‌Wi Sung-lac told a briefing.

Based on the Joint Fact Sheet issued after their summit last November, Lee and Trump also agreed to deepen cooperation and continue discussions on issues including nuclear fuel enrichment and reprocessing, nuclear-powered submarines, shipbuilding and the transfer of wartime operational control (OPCON) ​from the US to South Korea, Wi said.

Trump also reaffirmed his willingness to engage in dialogue with North Korea, Wi said, with the two leaders agreeing to remain in close communication in pursuit of a peace process.

Lee also said the US-China summit scheduled for Thursday would ⁠be important for regional developments, including South Korea-China relations, according to Wi.

The White House did not immediately comment on the Trump-Lee meeting.

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

In a post on X, Lee said he had an in-depth discussion with Trump on the ​progress made on investment projects and reaffirmed their commitment to further strengthening the ‌alliance.

DISCUSSED NORTH KOREA, GOLF

Earlier on Wednesday, Lee told the UN General Assembly that Seoul would support efforts to revive dialogue with North Korea and work toward a durable peace framework while seeking broader international backing for those ⁠efforts.

A senior presidential official separately told South Korean media outlets that Lee had told Trump he hoped the US president would help advance engagement with North Korea, to which Trump replied that he would do so.

The official said Trump also remarked that he maintained a good relationship with North Korean leader Kim Jong Un, ⁠though there was no indication of any specific contact currently taking place, the media reports said.

The official said Lee and Trump also spent considerable time discussing OPCON transfer, ​with Trump gaining a better understanding of Seoul's position. The US side stressed the need to meet the required conditions and complete the process as soon as possible.

The South Korean side outlined plans to increase defence spending, while expressing a desire to accelerate talks on developing nuclear-powered submarines, the official said.

The official was also ‌quoted as saying that progress in talks on investments in US projects helped pave the way for the summit, which had not initially been expected to take place.

The two leaders had been briefed on the ‌negotiations and welcomed the progress, but discussions were still under way on the details of the package and how it would be announced, the official said.

"The bigger ⁠framework is almost complete," the official was quoted as saying.

Lee ‌later said on X that Trump had ​reminded him of their plan to play golf together, first discussed in France in June, and that he hoped they could continue their discussions at the G20 summit in Miami later this year.

(Reporting by Kyu-seok Shim and Heejin KimEditing ‌by Ed Davies)

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