Seoul: South Korea and the United States have signed a memorandum of understanding that will see Seoul invest $350 billion in the US economy in exchange for reduced American tariffs.

According to Qatar News Agency, the deal includes $200 billion in cash payments, capped at $20 billion annually, and $150 billion earmarked for joint shipbuilding initiatives. These funds will target advanced sectors such as energy, semiconductors, pharmaceuticals, critical minerals, and artificial intelligence.

South Korean Industry Minister Kim Jung-kwan confirmed that both nations will select investment projects before the end of President Donald Trump's term in January 2029. The agreement follows an October 29 accord outlining the investment-for-tariff-reduction framework.