Washington: A joint fact sheet encompassing trade and security agreements between South Korea and the United States indicates that the bilateral alliance is “moving forward,” yet questions remain over the implementation details and potential challenges, experts noted.
According to Yonhap News Agency, the document, released this week, outlines the results of two summits between President Lee Jae Myung and U.S. President Donald Trump, held in Washington in August and Gyeongju last month prior to the Asia-Pacific Economic Cooperation summit. It covers a broad range of agreements, including U.S. approval for South Korea’s nuclear-powered submarine initiative and support for its uranium enrichment and nuclear fuel reprocessing capabilities.
Experts have expressed a combination of relief, hope, and caution, as the document’s finalization has reduced uncertainties surrounding the allies’ trade and security partnerships and quelled speculation about delays in its release. Andrew Yeo from the Brookings Institution noted the relief in seeing a public statement from both governments after earlier concerns over the absence of one. The statement is seen as a sign that the alliance is progressing.
Ellen Kim of the Korea Economic Institute of America highlighted the groundbreaking nature of the nuclear energy cooperation and submarine construction agreements. She noted that these agreements reflect the U.S.’s recognition of South Korea’s strategic needs and mutual interests in enhanced naval capabilities. However, Kim warned that these matters will undergo extensive scrutiny and discussion, potentially spanning years, and future U.S. administrations may not necessarily continue to uphold the agreements.
Rob Rapson, a former acting U.S. ambassador to South Korea, acknowledged the fact sheet’s role in clarifying bilateral agreements but emphasized that much work remains in implementing these agreements. Implementation details are still needed, especially in key sectors.
Experts anticipate that the document will create momentum for the future direction of the alliance, serving as a crucial guide, particularly regarding trade. Economic policy analyst Tom Ramage pointed out that the ‘Trump Round’ deal now supersedes the previous KORUS agreement, setting the stage for future U.S.-Korea trade and security relationships.
The document also includes Seoul’s plan to increase defense spending and a bilateral agreement to enhance U.S. deterrence against regional threats, indirectly addressing U.S. demands for Seoul to counter Chinese threats. The major security elements involve U.S. approval for South Korea’s nuclear-powered attack submarines and support for uranium enrichment and spent fuel reprocessing, previously restricted under a bilateral pact.
Ross Matzkin-Bridger from the Nuclear Threat Initiative cautioned against assuming that these nuclear capabilities would secure a reliable energy supply, highlighting the significant time and financial investments required.
The document’s treatment of the U.S. Forces Korea (USFK) presence has sparked speculation about potential force adjustments, as it did not commit to maintaining current troop levels but emphasized an “enduring” presence. This suggests a recalibration of U.S. strategic flexibility in the region.
On trade, the fact sheet outlines a U.S. agreement to lower tariffs on Korean products in exchange for Seoul’s investment commitments. However, Rapson warned of the possibility of “tariff snapbacks” if the U.S. perceives non-compliance from Korea.
The Supreme Court’s upcoming decision on Trump’s tariff authority under the International Emergency Economic Powers Act could have significant implications for U.S.-Korea relations and broader international trade dynamics.