Han Jeongae: "Roh Moo-hyun's Dream of a Nuclear-Powered Submarine Comes Closer Through Lee Jaemyung-Trump Summit"

"In the New Normal Era, the Lee Jaemyung Administration Is Forging a Path"
"The South Korea-U.S. Alliance Will Become Even Stronger"

Han Jeongae, Policy Committee Chair of the Democratic Party of Korea, stated on the 30th regarding the outcome of the Korea-U.S. presidential tariff negotiations, "I will do my utmost to support the results of this negotiation." She predicted that, as a result of this summit agreement, the Korea-U.S. relationship would become even stronger in both economic and security aspects.

At the Democratic Party's National Audit Countermeasure Meeting held at the National Assembly that day, Chair Han explained the significance of the achievements from the Korea-U.S. summit. She said, "As a result of the negotiations, we have converted the obligation for an advance payment of 350 billion dollars into an investment with an annual cap of 20 billion dollars. Furthermore, regarding investment targets, we have agreed to form and operate a consultative body so that both countries can reach agreements based on commercial rationality, which makes the arrangement stable." Chair Han added, "Bank of Korea Governor Rhee Changyong has previously stated that, without causing shocks to our foreign exchange market, the amount of foreign currency that can be raised within a year is between 15 billion and 20 billion dollars. In the case of the 150 billion dollar Make American Shipbuilding Great Again (MASGA) project, our companies are taking the lead and are able to utilize programs such as ship financing, banking, and loan guarantees, greatly increasing the possibility of winning new shipbuilding orders."

Han Jeongae, Policy Committee Chair of the Democratic Party of Korea (right), is waiting for her turn to speak at the National Assembly's National Audit Countermeasure Meeting on the 30th. Photo by Yonhap News.

She said, "With the conclusion of this negotiation, the thick fog and questions of uncertainty have been lifted for major export companies, and they have been able to secure competitiveness in key export items. Mutual tariffs will remain at 15%, while tariffs on automobiles and parts will be reduced by 15%." She continued, "For semiconductors, we will apply a tax rate that is not disadvantageous compared to our competitor Taiwan. Among the item-specific tariffs, pharmaceuticals and wood products will receive the most favorable treatment, and natural products, aircraft and parts, and generic drugs not produced in the United States will be exempt from tariffs."

She also highlighted the significance of introducing nuclear-powered submarines. She said, "The nuclear-powered submarine, which was the dream of Roh Moo-hyun, has now come before us as a result of yesterday's Korea-U.S. summit. We have taken a significant step closer to genuine self-reliant national defense, not just in words but in reality." She added, "There will also be positive signals regarding the negotiations to secure the right to reprocess spent nuclear fuel."

Chair Han concluded, "The Korea-U.S. alliance will become stronger and reach a higher level, mediated by various economic links such as the results of the Korea-U.S. summit and the tariff negotiations. In this new normal era, the Lee Jaemyung administration is forging a new path-one that no one has taken before."