Washington: The top diplomats of South Korea and the United States have agreed to work together for "good" results from bilateral talks concerning South Korea's proposed investment projects in the U.S. during their meeting in Washington on Friday, the foreign ministry announced. South Korean Foreign Minister Cho Hyun and U.S. Secretary of State Marco Rubio met at the State Department as the two countries continue discussions on the investment projects, stemming from last year's bilateral trade deal under which Seoul committed to investing $350 billion in the U.S.
According to Yonhap News Agency, Seoul and Washington were expected to announce Korea's first investment project on Friday (Korea time), but the announcement has been postponed until next week following a delayed briefing to the National Assembly. During a press meeting with South Korean correspondents, Cho urged Secretary Rubio to make joint efforts to ensure that ongoing consultations on strategic investment projects in the U.S. yield positive outcomes, while requesting Rubio's support in the process. Rubio assured that the State Department would also work towards successful conclusions of the consultations.
Both sides also agreed to maintain communication for the faithful implementation of last year's summit agreements between South Korean President Lee Jae Myung and U.S. President Donald Trump, as outlined in a joint fact sheet released in November covering trade, investment, and security agreements. Cho also emphasized South Korea's intent to contribute substantively to the efforts to restore freedom of navigation through the Strait of Hormuz and called for continued communication on the matter, as stated in a ministry press release.
The diplomats reaffirmed their solid commitment to the bilateral alliance and agreed to continue joint efforts to achieve denuclearization and maintain peace and stability on the Korean Peninsula through dialogue and diplomacy. Cho reiterated South Korea's role as a "pacemaker" supporting the Trump administration's efforts to resume dialogue with North Korea. They also agreed on the importance of trilateral cooperation with Japan for regional security.
Secretary Rubio highlighted the need for a fair and transparent business environment for American companies in South Korea and stressed the importance of securing supply chains for critical industries. Furthermore, he emphasized the swift execution of investment commitments from the joint fact sheet.
During his Washington visit, Cho also met with U.S. Under Secretary of Defense for Policy Elbridge Colby. They discussed alliance issues, including efforts for the transfer of wartime operational control to Seoul from Washington. Colby commended Seoul's increased defense spending and strengthening of alliance capabilities.
Friday's meeting followed a phone call last month and in-person talks in February between the chief diplomats.