Korea-U.S. Vice Foreign Ministers Review Investment Ahead of Security Talks... Support for Visa Issues

South Korea-U.S. Summit Agreement JFS Gains Momentum After About Seven Months

Park Yoonjoo, First Vice Minister of Foreign Affairs, who is currently visiting the United States, met with Christopher Landau, U.S. Deputy Secretary of State, on May 20 (local time) to review the progress of South Korea's investment in the United States. Full-scale negotiations in security fields such as nuclear-powered submarines and nuclear energy cooperation are expected to begin as early as next month. It appears that follow-up measures to the summit agreement reached between South Korea and the United States in October of last year are finally gaining momentum after about seven months.

Yonhap News Agency

According to the Ministry of Foreign Affairs on May 21, Vice Minister Park held talks with Deputy Secretary Landau and assessed that discussions regarding South Korea's investment in the United States are proceeding smoothly. Both sides agreed that the announcement of the Joint Fact Sheet (JFS) after the South Korea-U.S. summit was the most significant diplomatic achievement in the first year of the Lee Jaemyung administration, and that it is the best means to respond to the shared challenges faced by both countries amid international security and economic uncertainties. They also agreed to make efforts to ensure the successful kickoff meeting for follow-up negotiations in the security sector, which are scheduled to be held in Seoul as early as next month.

Improving visa issues is essential for progress in investment cooperation between South Korea and the United States. Vice Minister Park expressed his appreciation for Deputy Secretary Landau's attention to and willingness to address this matter. Deputy Secretary Landau responded by stating that he recognizes the significant contributions of South Korean companies’ investment activities to the revival of the U.S. economy and manufacturing sector, and that he will continue to pay attention and provide support.

Since the unprecedented incident in September last year, in which over 300 South Korean workers were detained in Georgia, the two countries have been operating a visa working group. Both sides appear to have reaffirmed their commitment to expanding visa eligibility so that skilled professionals can reside legally in the United States.

The two vice ministers also held in-depth discussions on global issues and the current situation, including the Middle East, the recent U.S.-China summit, and key mineral supply chains. Vice Minister Park agreed on the importance of safe and free navigation in the Strait of Hormuz. They decided to maintain immediate communication should any issues arise between South Korea and the United States, and to coordinate additional high-level exchanges at various opportunities over the next two to three months.

Meanwhile, during his visit to the United States, Vice Minister Park also met with Elbridge Colby, U.S. Deputy Secretary of Defense (War Department), to discuss key issues concerning the South Korea-U.S. alliance and the global situation, including the Middle East. Both sides reaffirmed the importance of the South Korea-U.S. alliance and discussed ways to develop the alliance in a mutually beneficial and future-oriented direction. They also discussed the implementation of agreements in the security sector, including nuclear-powered submarines. In addition, they agreed to continue joint efforts to maintain a robust South Korea-U.S. combined defense posture and to promote peace and stability on the Korean Peninsula.

This content was produced with the assistance of AI translation services.