GYEONGJU, North Gyeongsang Province — US President Donald Trump said Wednesday that Washington and Seoul are “very” close to finalizing a new trade agreement, describing South Korea as a key economic and security partner and urging deeper Korean investment in US industry.
“The Republic of Korea is a cherished American friend and a close ally,” Trump said in his keynote speech during his address at the APEC CEO Summit in Gyeongju. “Here on this peninsula, the people of South Korea have forged a miracle of economic development — an industrial and technological powerhouse, and above all a free society and enduring democracy.”
Trump said the partnership between the two countries remains central to regional stability and economic growth, highlighting shared efforts to strengthen industrial cooperation, particularly in manufacturing and shipbuilding.
“We’re serious partners. We’re really — we’re wedded, and we have a very special relationship,” he said, noting that cooperation between Korean and American companies is expanding in sectors ranging from shipbuilding and steel to energy and advanced technology.
The US president emphasized manufacturing and supply chain collaboration, saying Washington is working with Korean firms to rebuild America’s industrial base and enhance resilience in key strategic sectors.
“We were number one in the world during World War II — we produced a ship a day,” Trump said. “Today, we’re going to start building ships again, and we’re working with South Korea very much.”
He cited projects involving the Philadelphia Shipyard, which is linked to Korean investors, as part of broader efforts to strengthen the Indo-Pacific supply chain network. “When America thrives, our partners thrive and our alliances thrive,” he said.
Trump also pointed to growing cooperation in defense and technology, saying Korea plays an essential role in US security and supply chain integration. “We have the strongest military in the world, and South Korea is buying a lot of our weapons,” he said. “Closer coordination in shipbuilding, steel and weapons systems is now part of national security policy.”
He linked the alliance to Washington’s push to rebuild high-tech manufacturing capacity, including semiconductors and artificial intelligence infrastructure. Trump said the US is “reclaiming a big portion of the chip market,” citing Nvidia and TSMC’s production of the new Blackwell AI chip in the US and ongoing investments in AI data centers.
“We’re giving them very fast permits,” he said, referring to new energy and infrastructure approvals for major tech campuses. “We’re no longer having them wait 10 years or 15 years — we’re getting it done rapidly.”
Framing his “reciprocal tariffs” as a broader economic security strategy, Trump said the policy aims to promote fair trade while reinforcing alliances based on mutual benefit and shared prosperity.
“Economic security is national security,” he said. “These policies extend our vital security alliances into the realm of economic security — in shipbuilding, energy, semiconductors, critical minerals and pharmaceuticals.”
The US leader said he plans to continue strengthening coordination with Korea on both economic and defense fronts, describing the relationship as “a model of enduring partnership in a changing world.”
hnpark@heraldcorp.com
