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President Donald Trump said South Korea will pay $350 billion to reduce U.S. tariffs and invest $600 billion in American energy and business. In a Truth Social post Wednesday, he added that he approved Seoul’s plan to build nuclear-powered submarines as part of what he called a stronger military alliance.
Trump wrote on Truth Social, "South Korea has agreed to pay the USA 350 Billion Dollars for a lowering of the Tariff’s [sic] charged against them by the United States. Additionally, they have agreed to buy our Oil and Gas in vast quantities, and investments into our Country by wealthy South Korean Companies and Businessmen will exceed 600 Billion Dollars.
"Our Military Alliance is stronger than ever before and, based on that, I have given them approval to build a Nuclear Powered Submarine rather than the old-fashioned and far less nimble diesel-powered Submarines that they have now. A great trip, with a great Prime Minister!"
TRUMP MEETS WITH JAPAN'S FIRST FEMALE LEADER, SIGNS RARE EARTH, CRITICAL MINERALS SUPPLY
South Korean President Lee Jae Myung welcomes President Donald Trump for a special dinner hosted in his honor and state leaders at the Hilton Gyeongju hotel in Gyeongju Wednesday. (Andrew Caballero-Reynolds/AFP via Getty Images / Getty Images)
The president later posted on Truth that South Korea will be building its nuclear-powered submarines in the Philadelphia shipyards.
"Shipbuilding in our Country will soon be making a BIG COMEBACK," Trump wrote. "Stay tuned!!!"
TRUMP THREATENS 'MASSIVE' CHINA TARIFFS, SEES 'NO REASON' TO MEET WITH XI
South Korean supporters march with a banner that says "Koreans love Trump!" during a rally welcoming President Donald Trump, who is visiting to attend the Asia-Pacific Economic Cooperation Summit in Gyeongju. (Jung Yeon-Je/AFP via Getty Images / Getty Images)
Trump met with South Korean President Lee Jae Myung in the city of Gyeongju, concluding an Asia tour aimed at securing new investment deals.
During their meeting, Lee asked Trump to allow South Korea to access fuel for conventionally armed, nuclear-powered submarines, a step long restricted under a U.S. nonproliferation deal.
President Donald Trump speaks during a dinner in his honor in Gyeongju, South Korea, Wednesday. (Andrew Harnik/Getty Images / Getty Images)
Trump later received South Korea’s Grand Order of Mugunghwa — the nation’s highest honor — along with a replica of a royal crown from the ancient Silla Kingdom, symbolizing Seoul’s recognition of his diplomatic efforts.
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Trump’s earlier stops on the trip included visits to Malaysia and Japan. In Japan, he and Prime Minister Sanae Takaichi, the country’s first female leader, signed a framework agreement to secure supplies of critical minerals and rare earths through mining and processing.
Trump is scheduled to meet Chinese President Xi Jinping Thursday as part of his ongoing Asia tour.
Fox News Digital’s Landon Mion and Bradford Betz contributed to this report.
