South Korea’s Lee and Trump to hold August 25 summit with defence costs in focus
SEOUL, South Korea: South Korean President Lee Jae Myung and U.S. President Donald Trump will hold their first summit on August 25 in Washington, aiming to bolster both nations’ security alliance and economic partnership, according to a statement from Lee’s office.
President Lee, who took office following a snap election in June, has prioritized guiding South Korea’s export-driven economy through the shifting global trade landscape shaped by Trump’s aggressive tariff policies.
Presidential spokesperson Kang Yu-jung said at a briefing that the summit will focus on evolving the long-standing U.S.-South Korea alliance into a “future-oriented comprehensive security alliance,” while also expanding cooperation in economic security.
The two leaders are expected to build on a tariff agreement reached last month. That deal subjects South Korean goods to a 15% import duty — a reduction from the initially higher rates Trump had proposed.
The agreement paves the way for deeper collaboration in key industries, including semiconductors, electric vehicle batteries, and shipbuilding.
Trump, who announced the trade deal on July 30, has stated that South Korea will unveil significant investment plans at the summit. According to him, Seoul has pledged up to $350 billion in investments, which he said would be “selected” by him.
