South Korea says Trump welcomes progress on U.S. investment

South Korean President Lee Jae Myung and U.S. President Donald Trump welcomed “significant progress” in discussions on strategic investment projects on the sidelines of the United Nations General Assembly, Seoul's presidential office said on Wednesday.

The meeting came after South Korea's Industry Ministry briefed lawmakers on Tuesday on plans to implement the countries' $350 billion investment package.

The package includes a Texas gas-fired power project as a potential first investment, as well as possible investments in nuclear energy and an Alaska 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 agreed to deepen cooperation and continue discussions on nuclear fuel enrichment and reprocessing, nuclear-powered submarines and shipbuilding.

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 U.S.-China summit scheduled for Thursday (24 September) would be important for regional developments, including South Korea-China relations, and expressed hope for a successful meeting, according to Wi.

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

U.S. 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.

South Korea to revive dialogue with North Korea

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 U.S. 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.

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

The two sides agreed to hold follow-up consultations on the various issues in Washington as soon as possible, the reports said.

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.

Meanwhile, Trump raised the prospect of playing golf with Lee, who suggested the two could play on the sidelines of a G20 summit in Miami in December, the official said.

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South Korea United States Donald Trump Lee Jae Myung North Korea Kim Jong Un Nuclear Energy Alaska LNG defence