U.S. and South Korea Sign Shipbuilding Partnership Agreement During Seoul Minister’s Visit to Washington

U.S. , to discuss strategic investment projects and ways to enhance bilateral cooperation in energy, shipbuilding and other key sectors. A photo of Kim Jung-kwan and Howard Lutnick was taken in Washington on May 8, 2026, ahead of their talks.

During the meeting, Kim explained South Korea's progress in drafting follow-up regulations and establishing an implementation framework after the National Assembly passed the investment act in March 2026. U.S. focusing on shipbuilding and energy.

U.S. ministries signed a memorandum of understanding on the bilateral shipbuilding partnership initiative on or before May 8, 2026. The parties referenced a previously announced $350 billion investment framework, subject to an annual cap of $20 billion, that was part of a trade agreement reached last year.

Kim Jung-kwan's four-day visit to Washington ended on Saturday, May 9, 2026. U.S. Energy Secretary Chris Wright and reviewed progress on energy ties including nuclear power.

U.S. While in the United States, Kim held a video conference with Sen. Bill Hagerty (R-TN) to discuss cooperation on nuclear energy, other major industry sectors, and pending issues in the digital sector.

U.S. President Donald Trump said "I love South Korea" in response to a reporter's question at a White House press availability. The statement referenced his social media post on Monday about Iran firing at a South Korean-operated cargo ship in the Strait of Hormuz.