Seoul: South Korea and the United States have reached an agreement on paper concerning security and alliance issues, while discussions to conclude a trade deal are ongoing, as stated by National Security Adviser Wi Sung-lac.
According to Yonhap News Agency, Wi mentioned in a TV interview that both nations are in the final stages of negotiating the implementation of South Korea's $350 billion U.S. investment package. This was agreed upon in July in exchange for the U.S. reducing tariffs on South Korea from 25 percent to 15 percent.
The two countries are anticipated to announce a separate agreement detailing their security commitments. This will include South Korea's plan to augment defense spending and strategies for adjusting the role of U.S. troops in Korea to modernize the alliance. "We have most of the paperwork ready for the security components. We are not sure if we can finalize the tariff part yet, but we are working on it," Wi stated during an interview with public broadcaster KBS.
Wi was asked if the final deal would be concluded during this week's Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, to which he replied, "We will have to see." Seoul has indicated that some issues remain in the negotiations, such as the proportion of direct investment, the timeline for delivering the investment, and the method for distributing returns.
Wi also mentioned that Seoul proposed increasing its defense spending, a key demand from U.S. President Donald Trump for U.S. allies, using it as leverage to persuade Washington to agree to a revision of the bilateral nuclear energy pact, known as the "123 Agreement." The agreement, last updated in 2015, restricts South Korea from spent fuel reprocessing and uranium enrichment without U.S. consent. Seoul aims to include a revision in the security deal granting greater flexibility for civilian energy use.
Wi further commented on the upcoming talks between President Lee Jae Myung and Chinese President Xi Jinping, emphasizing the importance of building a "personal relationship" between the two leaders. He highlighted the need for China's cooperation in denuclearization and peace on the Korean Peninsula, urging Korean activists to refrain from anti-China rallies.
Additionally, Wi noted that President Lee is likely to have his first summit with new Japanese Prime Minister Sanae Takaichi in Gyeongju. He acknowledged concerns over Takaichi's conservative stance but suggested she recognizes the importance of South Korea-Japan relations.