Korean, US FMs to meet this week amid investment deals, Hormuz discussions
Foreign Minister Cho Hyun, left, and U.S. Secretary of State Marco Rubio greet each other during a trilateral foreign ministers' meeting among South Korea, the United States and Japan held on the sidelines of ASEAN-related foreign ministers' meetings in Manila, July 22. Yonhap
The top diplomats of South Korea and the United States plan to meet in Washington this week, officials said Wednesday, with Seoul's investment pledge and its role in securing the Strait of Hormuz likely topping the agenda.
Foreign Minister Cho Hyun is scheduled to visit Washington from Thursday to Saturday and hold talks with U.S. Secretary of State Marco Rubio on Friday (U.S. time), according to Seoul's foreign ministry.
"The two sides will discuss a wide range of issues, including South Korea-U.S. relations, the Korean Peninsula and regional and global issues," the ministry said in a release.
The meeting will be the first formal bilateral face-to-face talks between Cho and Rubio since February. The two top diplomats had a brief pull-aside conversation in Manila in July on the sidelines of ASEAN-related meetings.
During a phone call late last month, the two diplomats agreed to meet in person "in the near future" and continue close communication and cooperation on key issues, including economic cooperation, North Korean nuclear issues and the Middle East crisis.
The upcoming meeting comes as South Korea is expected to unveil its first U.S.-bound investment project as early as this week under a joint fact sheet adopted after last year's summit between President Lee Jae Myung and U.S. President Donald Trump.
The summit agreement covers South Korea's US$350 billion investment commitment in the U.S. in return for lower U.S. tariff rates, as well as other security arrangements.
Industry Minister Kim Jung-kwan met with U.S. Commerce Secretary Howard Lutnick and other officials in New York last week to finalize details, and said Sunday that Seoul seeks to announce the deal this week. Potential projects include a large-scale gas-fired power plant in Texas and nuclear power plants.
Under the summit agreement, the two countries are also discussing revisions to the Korea-U.S. nuclear energy agreement, known as the 123 Agreement, to allow South Korea to enrich uranium and reprocess spent fuel. They are also discussing Seoul's push to develop nuclear-powered submarines.
Another issue that could come up is South Korea's possible role in securing the Strait of Hormuz amid U.S. pressure on Seoul to contribute to efforts to restore freedom of navigation through the strategic waterway.
Seoul has been deliberating on whether to deploy military assets to the region. Cho told his Iranian counterpart last week that no decision had been made on a possible deployment.
The two sides are also expected to discuss North Korean issues, as Trump has expressed interest in reengaging with North Korean leader Kim Jong-un this year.
"The two countries have a range of pending economic and security issues, and the two ministers have shared the need to meet in person to discuss and coordinate on them," a ministry official said.