Expectations Grow for Year-End Agreement with the United States on Nuclear Submarines, Uranium Enrichment and Reprocessing; Task Force Set Up for Middle East Reconstruction

[Financial News] The government is seeking to reach a package deal with the United States by the end of this year on nuclear-powered submarines, uranium enrichment, and spent nuclear fuel reprocessing.
The South Korean government has said that nuclear-powered submarines should be built domestically, but it has not yet secured full approval from the executive branch of the United States federal government under Donald Trump. Uranium enrichment and spent nuclear fuel reprocessing also require revisions to the U.S.-ROK Civil Nuclear Cooperation Agreement and a difficult review by US Congress and other bodies.
At a briefing held on the 22nd at the Ministry of Foreign Affairs building in Jongno District, Seoul, the ministry said regarding nuclear cooperation between South Korea and the United States, "The previous consultations were held in Korea, and there will be another round in the United States soon," adding, "We hope to reach agreement on all of these issues within this year." The two countries discussed implementation of the security-related commitments that the two leaders agreed on in October last year, including South Korea's construction of nuclear-powered submarines and securing the right to enrich uranium and reprocess spent nuclear fuel, during talks held in Seoul on the 2nd and 3rd.
Close cooperation between South Korea and the United States is also under way on the North Korea nuclear issue. The two leaders met at the G7 summit held in Évian-les-Bains, France, on the 16th and 17th and held in-depth discussions.
Foreign Minister Cho Hyun said, "At the G7 summit, President Lee sat next to President Trump for about two hours during the official dinner and exchanged close views on a range of issues of mutual interest, including North Korea, the ROK-U.S. Alliance, and developments in the Middle East."
The ministry also believes there is no disagreement between South Korea and the United States on North Korea's denuclearization. In addition, the South Korean government has not yet concluded that Xi Jinping's visit to Pyongyang, the first in seven years, signaled acceptance of North Korea's nuclear arsenal. A visit to South Korea by Chinese Foreign Minister Wang Yi also appears likely in the near future. The ministry said the delay in Wang's visit is due to China's busy diplomatic schedule.
Meanwhile, a government-level cooperation body has been established to support reconstruction projects after the end of the war involving the United States, Israel, and Iran.
Cho said, "The Ministry of Foreign Affairs had been preparing in advance for the postwar period even before the possibility of an MOU between the United States and Iran was raised."
Cho explained, "In order to support Korean companies' participation in postwar recovery efforts in the Middle East and to prepare comprehensive and integrated economic cooperation measures with the region, we established the Korea-Middle East Comprehensive Economic Cooperation Team within the Ministry of Foreign Affairs. Through our overseas missions, we have also actively identified tailored cooperation needs with individual Middle Eastern countries." He added that participation in the reconstruction fund is still at an early stage.

rainman@fnnews.com Kim Kyung-soo Reporter