President Lee: "Discussed Warship Construction with Trump—U.S.-ROK Alliance Is a Key Partner in Industrial and Economic Security"

[Financial News | New York, U.S. — Reporter Choi Jong-geun]President Lee Jae Myung, visiting New York to attend the United Nations General Assembly, said on Sept. 23 (local time), "I also discussed various matters with U.S. President Donald Trump last night during our summit, and one of them was cooperation in the shipbuilding sector, including warship construction."
President Lee made the remarks while attending Korea Investment Summit 2026 in New York. "I expect that we will see somewhat more tangible results going forward," he said.
President Lee emphasized, "South Korea and the United States are key partners supporting each other's industrial and economic security. We expect this cooperation to contribute not only to prosperity but also to peace on the Korean Peninsula."
The two presidents held a 30-minute summit the previous day. Based on the joint explanatory document on the ROK-U.S. summit issued in November last year, they affirmed their shared commitment to further deepen cooperation in areas including nuclear submarine fuel, uranium enrichment and reprocessing, shipbuilding, and the transfer of wartime operational control. They also agreed to continue follow-up consultations.
President Lee said, "Cooperation in the shipbuilding sector is also becoming more concrete." He explained, "U.S. strategic vessels are scheduled to be built at Hanwha Philly Shipyard, where Hanwha Group plans to invest, and Hanwha has also participated in the development of the United States' next-generation firepower systems."
Mentioning advanced industries such as semiconductors in addition to shipbuilding, President Lee said, "I believe the ROK-U.S. Alliance, evolving toward the future, is the foundation for shared prosperity. The United States' core technologies, capital and broad market are combining with South Korea's manufacturing and supply capabilities, bringing the two countries' advanced industries and supply chains closer together than ever before." He added, "Samsung Electronics, SK hynix, Hyundai Motor Company and Samsung Biologics are each making large-scale investments in Texas, Indiana, Georgia and Maryland, respectively."
He added, "South Korea and the United States are key partners supporting each other's industrial and economic security. We expect this cooperation to contribute not only to prosperity but also to peace on the Korean Peninsula."

On his economic growth strategy, President Lee said, "South Korea is pursuing three mega projects centered on semiconductors, physical artificial intelligence (AI) and AI data centers. In addition, we are pursuing seven seed projects involving SMRs, nuclear fusion, renewable energy, quantum technology, aerospace, biotechnology, advanced materials and components, and critical minerals."
He continued, "We will expand semiconductor production bases and double memory production capacity within five years, while establishing a core AI supply chain that will not be shaken by any shock. We are also adapting the government's investment support to the pace of industrial change and will establish a Future Response Fund to provide stable support for future industries."
President Lee also addressed the capital markets. "Through three amendments to the Commercial Act, our government has introduced directors' duty of loyalty to shareholders and the principle of cancelling treasury shares, among other measures, and is carrying out reforms to further strengthen shareholder value," he said. "We are also converting South Korea's foreign-exchange market to a 24-hour trading system, allowing foreign investors to trade or settle the Korean won more conveniently during London and New York trading hours."
He added, "We will continue reforming the capital and foreign-exchange markets and lead changes that global investors can feel."
Attendees from South Korea included Kim Sung-joo, chairman of the National Pension Service (NPS); Il Young Park, president of the Korea Investment Corporation (KIC); John Rim, president of Samsung Biologics; Yoo Jung-jun, vice chairman of SK; Sung Y. Kim, president of Hyundai Motor Group; Hyun Shin-gyun, CEO of LG CNS; Jung In-sub, president of Hanwha Ocean; Yong Jin Song, president of Doosan Enerbility; and Byunghoon Kim, CEO of APR.
U.S. participants included Larry Fink, CEO of BlackRock; Jane Fraser, chair of the board and CEO of Citigroup; Timothy F. Geithner, chairman of Warburg Pincus; Emmanuel Roman, CEO of PIMCO; Jenny Johnson, CEO of Franklin Templeton; Jonathan Gray, president and chief operating officer of Blackstone; Bruce Flatt, CEO of Brookfield; Shemara Wikramanayake, managing director and CEO of Macquarie Group; Michael Arougheti, CEO of Ares Management; Chris Hogbin, CEO of Lazard Asset Management; Marc Nachmann, global head of Goldman Sachs Asset Management; and Bernard Mensah, president of international at Bank of America.
[email protected] Choi Jong-geun Reporter