Chiefs of Staff, Policy, and National Security Brief on South Korea-U.S. Summit Results
Working-Level Task Force Launched for $350 Billion U.S. Investment Fund
Ministry of Economy and Finance, Financial Services Commission, and Korea Development
Korean companies are set to make direct investments in the United States totaling 150 billion dollars. This private investment is separate from the 350 billion dollar U.S. investment fund that resulted from the mutual tariff negotiations last month. In addition, the Korean government plans to officially launch a task force (TF) involving the Ministry of Economy and Finance, the Financial Services Commission, and the Korea Development Bank to establish the 350 billion dollar U.S. investment fund. Furthermore, the leaders of South Korea and the United States held meaningful discussions on nuclear energy cooperation, and Kang Hoonshik, Chief of Staff at the Presidential Office, agreed to operate a permanent "hotline" with Susie Wiles, Chief of Staff at the White House and a close aide to U.S. President Donald Trump.
On August 25 (local time), the three chiefs-Chief of Staff Kang Hoonshik, Policy Chief Kim Yongbeom, and National Security Chief Wi Sunglak-visited the press center set up in Washington, D.C., to announce the results of the Korea-U.S. summit.
Policy Chief Kim Yongbeom introduced the discussions held at the "Korea-U.S. Business Roundtable," stating, "We have decided to utilize a financial package to support the strengthening of strategic industries, including up to 150 billion dollars for shipbuilding, as well as energy, critical minerals, batteries, semiconductors, pharmaceuticals, artificial intelligence (AI), and quantum computing." He added, "We have agreed to regulate the establishment and operation of the financial package through a non-binding memorandum of understanding (MOU)."
Kim Yongbeom further explained, "Since significant progress has been made in the overall agreement between the two countries, we plan to form a working-level task force led by the Director-General for International Economic Affairs at the Ministry of Economy and Finance, with participation from the Financial Services Commission, Export-Import Bank of Korea, Korea Development Bank, and Korea Trade Insurance Corporation, to continue detailed discussions with the U.S. side on implementation plans." As a result of this business roundtable, two contracts were signed and nine MOUs were concluded across five sectors: shipbuilding, nuclear energy, aviation, liquefied natural gas (LNG), and critical minerals.
By sector, Kim Yongbeom noted that the two countries reaffirmed the potential for cooperation and complementarity in the AI competition. In this context, there were discussions about SK Hynix and Samsung providing semiconductor chips optimized for Nvidia’s supercomputers. In addition, IBM cited its partnership with Yonsei University on quantum computer installation as an example of AI cooperation and expressed its intention to continue its strategic partnership with Korea. In the shipbuilding sector, discussions included a joint investment program between HD Hyundai and Cerberus Capital for the modernization of U.S. shipyards. In the nuclear power sector, Doosan Enerbility and X-Energy agreed to cooperate on the commercialization of small modular reactors (SMRs) as a key energy source in the AI era.
Chief of Staff Kang Hoonshik explained that, in preparing for the summit, he determined that a hotline was necessary to discuss long-term and comprehensive issues, and thus agreed to establish a hotline with Susie Wiles, the White House Chief of Staff who is trusted by President Trump. The establishment of the hotline was accelerated two weeks prior to the summit and, considering ongoing negotiations on trade and security issues, was conducted in secrecy.
Kang Hoonshik said, "From 10:30 a.m. for 40 minutes, I met with the White House Chief of Staff at the White House," adding, "Regarding President Trump's post on Truth Social at 9:20 a.m., I clarified the political situation in Korea to dispel any misunderstandings, and requested that President Trump be briefed again on the exact facts regarding this matter." He continued, "We also had a broad discussion about each other's difficulties," and explained that they agreed to continue communication through the chiefs of staff channel in the future.
Meanwhile, the summit also included discussions on nuclear energy. National Security Chief Wi Sunglak stated, "There was a meaningful discussion between the leaders on the issue of nuclear energy competition, and further consultations will follow," adding, "Nuclear power cooperation is currently proceeding in several directions, but it is difficult to disclose detailed information at this time. I believe it is better to wait for further consultations and inform you when there are concrete results."
Regarding President Trump's reported mention during the summit that the United States could request the transfer of ownership of U.S. military bases in Korea, Wi Sunglak responded, "I think we need to look into the background a bit more. The land for U.S. military bases in Korea is provided by us," adding, "I will try to understand exactly what was meant before responding further."
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