South Korean Prime Minister Kim Min-seok met with US Vice President JD Vance in Washington D.C. on Thursday to discuss critical bilateral trade matters. Key topics included the implementation of the Korea-US investment framework, a landmark agreement established by President Lee Jae Myung and former US President Donald Trump the previous year.
Vice President Vance expressed his appreciation for the South Korean National Assembly’s approval of the US investment bill. He emphasized the importance of continued close collaboration between the two nations. This sentiment was relayed by the South Korean Prime Minister’s Office on Friday.
“(I) hope that the legislation will lead to our (South Korean) investment in the US contributing to the advancement of US manufacturing industries and to job creation,” the PMO quoted Prime Minister Kim as saying during the high-level meeting.
Prime Minister Kim also urged both countries to actively pursue the implementation of previously agreed upon security measures. These include South Korea’s plans for developing a nuclear-powered submarine and collaborative initiatives regarding nuclear energy.
The meeting was held shortly after South Korea’s National Assembly passed a crucial special bill. This bill provides the legal foundation for Seoul’s commitment to a substantial $350 billion investment in the United States, signifying a major economic partnership.
The discussions occurred a day after the Office of the United States Trade Representative (USTR) initiated a Section 301 investigation into 16 economies, including South Korea, China, and Japan. Prime Minister Kim was anticipated to address concerns that this investigation should not negatively impact Seoul’s economic interests.
This meeting marks the second encounter between Prime Minister Kim and Vice President Vance in less than two months, following their previous discussions during Kim’s visit to Washington on January 23.
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