Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
South Korea to pursue multifront nuclear submarine talks with US starting next year

President Lee Jae Myung shakes hands with U.S. President Donald Trump during a dinner at the Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province, Oct. 29. Yonhap
Allies explore separate agreement on nuclear materials, sidestepping energy pact revision
South Korea will pursue multifront discussions next year with the United States on building its first nuclear-powered submarine, including talks on uranium enrichment and the reprocessing of spent nuclear fuel, according to security officials Sunday.
During National Security Adviser Wi Sung-lac's latest visit to Washington, the two sides agreed to forge a separate bilateral agreement under Section 91 of the U.S. Atomic Energy Act, which authorizes the U.S. president to approve the transfer of nuclear materials for military use.
"Rather than setting priorities, we will launch all of them at once," Wi was quoted as saying by Yonhap News Agency. "Talks on uranium enrichment, spent nuclear fuel reprocessing and nuclear-powered submarines will all be pursued simultaneously between South Korea and the United States starting early next year."
The two countries have reached a shared understanding on the need for follow-up consultations to implement agreements reached at the summit level, he said, adding that substantive, sector-specific talks will begin in earnest next year.
During his two-day trip, the top security official held a series of meetings with senior U.S. officials, including Secretary of State and National Security Adviser Marco Rubio and Energy Secretary Chris Wright.
Wi said the discussions have been smooth, adding that U.S. officials described the bilateral relationship as a "model alliance."
"Building on that atmosphere, we want to step up efforts on follow-up measures," Wi said, adding that separate task forces on nuclear submarines and uranium enrichment are being set up within the presidential office to prepare for the upcoming talks.
National Security Adviser Wi Sung-lac speaks to reporters upon his arrival in Washington, Tuesday (local time). Yonhap
Wi's visit followed a summit in late October between President Lee Jae Myung and U.S. President Donald Trump, during which Trump approved Seoul's long-standing bid to build a nuclear submarine to better respond to North Korea’s advancing nuclear threats.
The agreements were detailed in a joint fact sheet released the following month. The document said Washington would support Seoul in pursuing the processes needed for civil uranium enrichment and spent nuclear fuel reprocessing for peaceful uses.
Under the existing bilateral nuclear energy agreement, South Korea may enrich uranium up to 20 percent and reprocess spent nuclear fuel for civilian purposes only with U.S. consent — restrictions that have effectively barred Seoul from developing the capabilities needed for nuclear submarines.
As the fact sheet did not spell out details, speculation had grown over how the project would proceed, with some observers suggesting the bilateral nuclear pact itself would need to be revised.
Wi's latest remarks, however, suggest that Seoul and Washington are instead pursuing an exemption under Section 91 of the U.S. Atomic Energy Act without revising the existing agreement.
The approach mirrors the framework applied to Australia, which was allowed to receive nuclear submarines after joining the AUKUS security partnership with the United States and Britain in 2021.
"Some have argued that the bilateral nuclear cooperation agreement with the U.S. should be swiftly revised to grant Seoul autonomy over uranium enrichment and enable the domestic production of fuel needed for nuclear-powered submarines," said Jun Bong-geun, a nuclear expert and head of the Korea Nuclear Policy Society. "However, South Korea does not have its own enrichment facilities, making such proposals unrealistic.”
He added, "The only realistic option is for South Korea to rely on fuel supplied by the U.S. under a separate bilateral military arrangement that is distinct from the existing civilian nuclear cooperation agreement."
At a policy briefing held Thursday, the Ministry of National Defense unveiled plans to conclude negotiations with Washington on nuclear fuel for nuclear submarines within two years.
On the same day, Seoul convened a cross-agency task force — a coalition spanning the defense and foreign ministries, the military and the Defense Acquisition Program Administration — to synchronize the intricate moving parts of the project.