The United States and South Korea finalized a trade agreement as part of President Trump’s tour of Asia.
The agreement, centered on science and technology, aims to further U.S. energy dominance, advance the digital revolution, and build maritime partnership.
Under the deal, Korean Air will purchase 103 new Boeing aircraft, valued at $36.2 billion, which is expected to support up to 135,000 jobs across the United States. Korean Air will also purchase GE Aerospace engines in a separate deal valued at $13.7 billion to power the aircraft. The White House explained in a fact sheet that the agreement also expands cooperation with South Korea for “AI exports, AI standards, AI adoption, research security, 6G, biotech supply chains, and quantum innovation.”
Furthermore, the trade agreement secures investments from South Korea for the modernization and expansion of U.S. shipbuilding efforts. This includes a partnership between HD Hyundai and Cerberus Capital Management, cooperation between Samsung Heavy Industries and Vigor Marine Group, and an infrastructure plan from Hanwha Ocean to strengthen Pennsylvania’s Philly Shipyard.
The White House celebrated the deal, stating that the visit to South Korea “underscored America’s prominent role as the preeminent Pacific power” and builds upon the “historic trade victories” President Trump secured while in Japan and Malaysia.
Michael Kratsios, Assistant to the President and Director of the White House Office of Science and Technology Policy, said of the deal: “The Trump Administration is redefining American technological leadership by driving bilateral collaborative partnerships with allies like Japan and Korea. Each Technology Prosperity Deal offers great opportunities to accelerate scientific discovery and lead the world into a new era of innovation driven by the US and our partners.”
