Source: US Whitehouse
SECURING BILLIONS IN EXPORTS AND INVESTMENTS: Today,President Donald J. Trump completed the final stop of his historic Indo-Pacific trip, securing billions in landmark deals while visiting the Republic of Korea (ROK), including initiatives to support American jobs, further America’s energy dominance, promote American leadership in the technology revolution, and build our maritime partnership.
- Korean Air will purchase 103 new Boeing aircraft valued at $36.2 billion, supporting up to 135,000 jobs across the United States. To power these new aircraft, Korean Air will also purchase state-of-the-art GE Aerospace engines in a separate deal valued at $13.7 billion.
- The ROK Air Force selected L3Harris Technologies to develop its new Airborne Warning and Control aircraft in a $2.3 billion deal that will support over 6,000 American jobs.
- America’s ReElement Technologies and POSCO International will partner to launch a U.S.-based, vertically integrated rare earth separation, refining, and magnet production complex focused on high-value mobility magnets.
FURTHERING AMERICA’S ENERGY DOMINANCE: The President secured key investments further solidifying the United States’ position as the global energy leader.
- The Korea Gas Corporation signed agreements to purchase about 3.3 million tons/year of U.S. LNG via long-term agreements with sellers, including Trafigura and TotalEnergy, through their portfolios and offtake agreements with U.S. LNG producers like Cheniere.
- Centrus Energy Corp, KHNP, and POSCO International Corporation agreed to support the expansion of Centrus’ uranium enrichment capacity in Piketon, Ohio, creating 3,000 jobs in the United States.
- LS Group pledged to invest $3 billion by 2030 in U.S. power-grid infrastructure, including undersea cables, power equipment, and winding wires. LS Cable’s U.S. subsidiary, LS Greenlink, is building a $681 million manufacturing facility in Virginia.
PROMOTING AMERICA’S ADVANTAGE IN THE TECHNOLOGY REVOLUTION: The President strengthened America’s leading role in the digitized economy by boosting investments and jobs in, and access to, U.S. technology.
- The United States and the ROK are signing a Technology Prosperity Deal to expand bilateral science and technology cooperation with an emphasis on U.S. AI exports, AI standards, AI adoption, research security, 6G, biotech supply chains, and quantum innovation.
- Amazon will invest $5 billion through 2031 to build the ROK’s cloud infrastructure, helping drive U.S. exports and American AI leadership. This comes on top of Amazon Web Services’ (AWS’) historic cloud-infrastructure investments across 14 APEC economies during the President’s term, totaling $40 billion.
- NASA’s Artemis II mission will take astronauts around the Moon for the first time since Apollo, and deploy a Korean satellite to measure space radiation.
- Both countries committed to stabilize and diversify the critical-mineral supply chain through public-private collaboration in the mining and refining of such minerals.
BUILDING OUR MARITIME PARTNERSHIP: The President has secured from the ROK investments to modernize and expand the capacity of American shipbuilding industries, including through investments in U.S. shipyards and America’s workforce.
- HD Hyundai and Cerberus Capital Management will partner on a $5 billion investment program for modernizing American shipyards, strengthening supply chains, and applying new technologies like autonomous navigation, digitalization, and automation.
- Samsung Heavy Industries and Vigor Marine Group will cooperate on naval vessel maintenance, repair, and overhaul (MRO), shipyard automation, and new construction of U.S.-flagged vessels.
- Hanwha Ocean announced a $5 billion infrastructure plan to strengthen Pennsylvania’s Philly Shipyard workforce and increase its current production capacity by more than ten-fold.
REESTABLISHING AMERICAN LEADERSHIP: President Trump’s State Visit to Korea reaffirmed the steadfast alliance between the United States and the ROK, while advancing U.S. economic interests—delivering tangible benefits for the American people.
- This capstone stop on President Trump’s Asia travels underscored America’s prominent role as the preeminent Pacific power.
- Today’s announcements build on the historic trade victories and infrastructure commitments the President secured while in Japan and Malaysia, bringing billions in investments and thousands of jobs home to America.