U.S. President Donald Trump said he has approved nuclear-powered submarines for South Korea. He also said that, in exchange for tariff reductions, South Korea has agreed to pay the United States $350 billion (about 490 trillion won), and that investment by South Korean companies in the United States will exceed $600 billion.

Currently visiting South Korea, President Trump said in a post on social media on the 30th (KST) that “the South Korea-U.S. military alliance is stronger than ever,” adding, “I have approved allowing South Korea to build nuclear-powered submarines instead of the sluggish, outdated diesel submarines it currently operates.”

This appears to be an immediate response to a request by President Lee Jae-myung at the South Korea-U.S. summit to “make the decision to allow the supply of fuel for nuclear-powered submarines.” Given that building nuclear-powered submarines requires revising the South Korea-U.S. Nuclear Energy Agreement and the U.S. supply of fuel, Trump is seen as having used the term ‘approval’ in that context.

Trump added, “South Korea will build the nuclear-powered submarines right here, at the Philly Shipyard in the United States,” and, “the U.S. shipbuilding industry will soon regain its vigor.”

The Philly Shipyard, which Hanwha Group acquired last December, is a symbol of South Korea-U.S. cooperation in shipbuilding. In August, Hanwha Group also announced an additional investment of $5 billion (7 trillion won) here as part of the bilateral shipbuilding cooperation project ‘MASGA’ (Make American Shipbuilding Great Again).

Trump also said regarding tariffs and trade talks that “South Korea has agreed to pay (pay) $350 billion in return for a reduction of tariffs imposed by the United States.” However, he did not make the previously mentioned (up front) reference.

He said, “South Korea has also agreed to purchase a massive amount of oil and gas, and the amount that wealthy South Korean companies and businesspeople will invest in the United States will exceed $600 billion.”

The White House did not disclose specific details regarding the $600 billion. However, the White House released a fact sheet the previous day compiling large-scale U.S.-bound investment plans by South Korean companies, and the $600 billion appears to be the sum of those plans.