The Peninsula

Q1 2026 U.S.-Korea Trade, Investment, and Diplomacy Ledger

A Supreme Court ruling striking down tariffs under the International Emergency Economic Powers Act (IEEPA), a subsequent ruling by the Court of International Trade ordering tariff refunds, new Section 301 investigations targeting South Korea, and the approval for over USD 20 billion in South Korean investment commitments reshaped the U.S.-South Korea economic relationship in the first quarter of 2026.

At the same time, new initiatives such as Project Vault and the U.S. Maritime Action Plan changed how investment projects obtain strategic materials and come online in the United States. Likewise, policy changes in South Korea, such as permitting the export of high-precision map data, alter the investment dynamic between technology companies in the two countries.

Q1 provided significant collaboration across several strategic industries, including shipbuilding, pharmaceuticals, chips, and AI, even before South Korean commitments under the USD 20 billion-a-year investment fund officially come online.

This collaboration was bolstered by significant political dialogue between the United States and South Korea, as well as sideline interactions at the fourteenth World Trade Organization (WTO) Ministerial in Cameroon, the World Economic Forum in Switzerland, and the Group of Seven (G7) Foreign Ministerial in France.

The following are significant policy changes, deals and partnerships, and political meetings that occurred between the United States and South Korea in Q1 2026.

Policy News

USTR Releases 2026 National Trade Estimate Report on Foreign Trade Barriers

On March 31, the Office of the United States Trade Representative (USTR) released its annual National Trade Estimate (NTE) Report on Foreign Trade Barriers, flagging a broad range of South Korean barriers across digital services, labor law, agriculture, and motor vehicles.

Practical Takeaways

• The 2026 report expands criticism against South Korea’s “non-market policies” and adds new issues, such as tariff-rate quotas (TRQs) for rice and soybeans and government procurement policies for AI infrastructure
• The report targets National Assembly legislation that would “mandate foreign content providers to pay network usage fees to Korea’s Internet Service Providers (ISPs),” likely referring to Korea’s Online Platform Act
• The NTE’s findings could serve as supporting evidence for future Section 301 investigations against South Korea

BIS Economist Shin Hyun Song Named New Governor of the Bank of Korea

On March 22, President Lee Jae Myung nominated Shin Hyun Song, former Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements (BIS), as the new governor of the Bank of Korea, replacing Rhee Chang Yong.

Practical Takeaways

• Significant attention will be paid to whether Shin raises interest rates to address increasing pressures on the economy during his first meeting with the Monetary Policy Board on May 28
• Shin’s academic research has argued against stablecoins and in favor of central bank digital currencies (CBDCs), suggesting he is likely to make major progress on the Bank of Korea’s “Project Hangang” CBDC efforts

South Korea Requests Tariff Exemptions on Shipbuilding Materials

On March 18, South Korea’s Deputy Minister for Industrial Policy Park Dong-Il met with Pennsylvania’s Economic Development Secretary Rick Sigler in Seoul to discuss U.S.-South Korea shipbuilding under the MASGA project and request tariff exemptions.

Practical Takeaways

• South Korea made several requests to enhance U.S.-Korea shipbuilding: exemptions from tariffs on shipbuilding materials, such as parts and steel; shortening of administrative procedures, such as permits for expansion construction; infrastructure to respond to traffic and power demand; and designation of the Philadelphia area as a Maritime Prosperity Zone (MPZ) under the U.S. Maritime Action Plan (MAP)

Trump Administration Suspends the Jones Act

On March 17, the U.S. Department of Homeland Security approved a sixty-day waiver of the Jones Act, permitting foreign-flagged vessels to carry certain energy commodities between U.S. ports under national defense authority. The decision was made to ease pressure on domestic supply flows as energy market disruptions affected the availability and movement of key fuels. U.S. Customs and Border Protection (CBP) is overseeing implementation, with existing reporting and compliance requirements still in place.

Practical Takeaways

• The waiver creates temporary access for foreign vessels in U.S. domestic energy shipping
• The decision highlights the limited U.S. tanker capacity in domestic energy transportation
• Existing Jones Act restrictions are maintained beyond the waiver period

South Korea Passes Special Act on U.S.-Korea Strategic Investment

On March 12, the National Assembly passed the Special Act on the Operation and Management of Strategic Investment between the Republic of Korea and the United States, creating a legal basis for implementing the U.S.-South Korea strategic investment memorandum of understanding (MOU) signed in November 2025. The law provides support for large-scale investment in seven designated priority sectors.

Practical Takeaways

• On March 18, South Korea launched the U.S. Strategic Investment Corporation Establishment Committee, presided over by First Vice Minister of Finance and Economy Lee Hyung-il, to establish the Korea-U.S. Strategic Investment Corporation
• The legislation establishes a government-backed investment vehicle to scale up strategic investment in U.S. industries aligned with national security priorities
• The law connects South Korean investment commitments to U.S.-Korea trade negotiations on tariffs and market access

USTR Initiates Section 301 Investigations on Korea

On March 11, USTR began a Section 301 investigation into South Korea’s excess capacity exports into the United States, alongside China, the European Union, Japan, India, and over a dozen other economies. A separate Section 301 investigation into “failures to take action on forced labor” followed on March 12.

Practical Takeaways

• On February 20, U.S. Trade Representative Jamieson Greer initially suggested the possibility of country-specific investigations on digital services taxes and agricultural market access. On March 9, Korea’s Ministry of Trade, Industry and Resources (MOTIR) issued a statement that it is “untrue” that USTR would pursue a Section 301 investigation into Korea’s digital trade practices
• USTR plans to complete the investigation and impose follow-up tariffs before July 24, when Section 122 tariffs expire
• U.S. investors Greenoaks and Altimeter announced they are withdrawing their Section 301 petition against the Korean government’s treatment of Coupang
• The Korean government stated it will “actively consult” with the United States to ensure it does not receive unfair treatment

U.S. Court of International Trade Orders USD 166 Billion in Tariff Duties Refunded

On March 4, the Court of International Trade (CIT) ordered CBP to refund duties collected under the struck-down IEEPA tariffs. On March 6, CBP declared the logistical challenges of refunding. The CIT order was subsequently amended on March 20 to expand the refund scope and on March 27, to change the liquidation terms. On March 31, CBP stated that “four components of the refund process are 60-85 percent complete” and indicated a refund system would be operational by around April 20.

Practical Takeaways

• Only U.S. importers who directly paid the tariffs are eligible
• Importers will need to petition through CBP’s CAPE system; CBP estimates up to forty-five days for entries to be reviewed

U.S. Reportedly Refuses South Korea’s Currency Swap Proposal

On March 4, Deputy Prime Minister Koo Yun-cheol stated that the United States refused South Korea’s request for a bilateral currency swap. U.S. officials argued that South Korea does not face a shortage of foreign exchange and therefore does not require a swap arrangement.

Practical Takeaways

• South Korea may face greater exposure to exchange rate swings during external shocks
• South Korea may need to rely on its own reserves and policy tools to manage currency volatility in the absence of a permanent standing USD-KRW swap line

USTR Releases 2026 Trade Policy Agenda

On March 2, USTR released President Trump’s 2026 Trade Policy Agenda (TPA).

Practical Takeaways

• TPA notes the framework deal announcement between the United States and South Korea
• The report encourages greenfield investment in the United States through the U.S.-Korea investment framework
• The report notes the use of the Committee on Foreign Investment in the United States (CFIUS) to screen foreign investments for national security risks

South Korea Allows Export of High-Precision Map Data

On February 27, the Korean government approved the conditional export of high-precision map data requested by Google.

Practical Takeaways

• The decision removes a long-standing barrier preventing Google Maps from providing full services in South Korea and opens new opportunities for U.S. technology platforms in the Korean market
• The approval raises new concerns over data sovereignty and domestic industry competitiveness as high-precision geospatial data becomes accessible to global technology firms

Trump Administration Imposes Global Tariffs under Section 122

On February 20, the Trump administration imposed a 10 percent global import surcharge under Section 122, replacing tariffs previously imposed under IEEPA after the Supreme Court ruled that IEEPA does not authorize the president to impose tariffs.

Practical Takeaways

• The global tariffs are in effect from February 24 through July 24, unless extended by Congress
• The action provides a temporary stopgap while the administration prepares longer-term trade actions under Section 232 or Section 301
• Section 122 does not incorporate previously negotiated country-specific caps and exemptions; South Korean exports are subject to the same tariffs as those of other countries unless covered by specific product exemptions

U.S. Reviews Legislation to Ban Imports of Chinese Energy Storage Systems

On February 20, Representative Greg Steube (R-FL) introduced the CHARGE Act, a bill to ban imports of certain energy storage systems (ESSs) made by Chinese entities. It focuses on systems with remote monitoring capabilities that could allow access to or disruptions of the U.S. electric grid, building on the U.S.-China Economic and Security Review Commission’s 2025 recommendations.

Practical Takeaways

• Restrictions on Chinese ESS in the U.S. market could create room for South Korean battery and storage companies
• Korean companies with operations or supply chains in China may face additional scrutiny
• The bill is currently under congressional review and has not yet been enacted

U.S. Treasury Releases 2026 G20 Finance Track Agenda

On February 19, Secretary of the Treasury Scott Bessent announced finance track priorities for the 2026 Group of Twenty (G20), hosted by the United States with meetings in Washington, DC (April 16), Asheville, North Carolina (August 29–September), Bangkok, Thailand (October 15), and Miami, Florida (December 14–15).

Practical Takeaways

• The U.S. agenda focuses on “pro-growth economic policies,” including modernizing financial regulations, strengthening understanding of global imbalances, enhancing debt transparency, facilitating debt restructuring, endorsing a digital assets ecosystem, improving cross-border payments, and promoting financial literacy

White House Issues Maritime Action Plan

On February 13, the White House released the America’s Maritime Action Plan (MAP), promulgated by the Restoring America’s Maritime Dominance executive order on April 9, 2025. MAP seeks to create “Maritime Prosperity Zones (MPZs)” to channel investment into shipyards, suppliers, and maritime infrastructure, with incentives such as credits, tax exemptions, grants, loan support, and job training.

Practical Takeaways

• MAP creates substantial pathways for Korean shipbuilding companies to expand investment in the United States
• The plan outlines a potential “Bridge Strategy” that would allow the first ships under a contract to be built in foreign shipyards while U.S. shipyard investments come online

FORGE Critical Minerals Partnership

On February 4, the United States launched the Forum on Resource Geostrategic Engagement (FORGE) at the 2026 Critical Minerals Ministerial to strengthen cooperation on critical minerals supply chains.

Practical Takeaways

• South Korea will serve as the inaugural chair of FORGE through June, underscoring its role in global minerals processing and advanced manufacturing supply chains
• FORGE aims to create a “preferential trading zone” for critical minerals, setting reference prices among member countries to act as “price floors” enforced through tariffs

Project Vault

On February 2, the Trump administration and the Export-Import Bank (EXIM) announced “Project Vault” to create a “U.S. Strategic Critical Minerals Reserve.” EXIM approved a direct loan of up to USD 10 billion, with an additional USD 2 billion from private sector investment.

Practical Takeaways

• Project Vault creates a strategic minerals stockpile for any mineral on the U.S. Geological Survey’s critical minerals list
• The critical minerals reserve aims to protect the private sector from price volatility and supply chain disruptions
• The reserve establishes fixed purchase prices for critical minerals, including minerals sourced from foreign countries

U.S. Treasury Maintains South Korea on Currency Monitoring List

On January 29, the Treasury Department released its semiannual report on the macroeconomic and foreign-exchange policies of major U.S. trading partners.

Practical Takeaways

• The report cited the Korean won’s depreciation in the second half of 2025 as inconsistent with Korea’s “strong economic fundamentals”
• The report also cited Korea’s trade surplus with the United States and overall current account surplus
• Korea remained on the Currency Monitoring List

Critical Minerals Executive Order

On January 14, the White House issued a Section 232 proclamation directing the U.S. Department of Commerce and USTR to negotiate with trading partners on national security risks related to imports of processed critical minerals and their derivative products (PCMDPs).

Practical Takeaways

• Access to the U.S. market will depend on where processing capacity is located
• Korean companies may face growing pressure to expand processing capacity within the United States
• Negotiated agreements emphasize policy engagement in supply chain decisions, with a possibility of government intervention in pricing and supply conditions

The United States Plans Tariff Carveouts for Chip Hyperscalers

On January 14, the White House announced Section 232 tariffs on imports of semiconductors, semiconductor manufacturing equipment, and related products. The administration applied a 25 percent tariff to certain advanced computing chips and excluded imports supporting U.S. technology infrastructure and domestic manufacturing.

Practical Takeaways

• Korean firms are not directly targeted
• U.S. semiconductor policy now favors use and production within its borders, pushing firms to move supply chains into the United States
• In the short term, exemptions for data centers support Korean exports by stabilizing demand for advanced chips
• Tariffs could expand, or exemptions could narrow over time

South Korea Nominated as Chair of 2027 IRENA Assembly

On January 12, South Korea was nominated for a one-year chairmanship of the International Renewable Energy Agency (IRENA), beginning in 2027.

Practical Takeaways

• Korea will lead agenda-setting for the global expansion of renewable energy and inter-country cooperation under IRENA

South Korea Unveils Blueprint to Shift 25 Percent of National Currency to CBDC by 2030

On January 9, South Korea’s Ministry of Finance and Economy (MOFE) released its 2026 Economic Growth Strategy, accelerating the adoption of digital currency.

Practical Takeaways

• 25 percent of Korea’s treasury funds will be executed through CBDC by 2030
• Deposit tokens will be piloted through electric vehicle charging infrastructure projects in H1 2026 as part of phase two of the Bank of Korea’s “Project Hangang” CBDC initiative
• The government will pursue amendments to the Bank of Korea Act and the Treasury Fund Management Act to provide a legal basis for blockchain-based payments and settlements, as well as establish an institutional framework for stablecoins

South Korea Begins Chairmanship of the Wassenaar Arrangement; Commerce BIS Chief Calls for Limited U.S. Participation

On January 1, South Korea began its one-year chairmanship of the Wassenaar Arrangement (WA) plenary. Under Secretary of Commerce for Industry and Security Jeffrey Kessler reportedly told BIS staff he “doesn’t want staff participating in Wassenaar and won’t implement multilateral restrictions that don’t align with the Trump administration’s priorities.”

Practical Takeaways

• WA member states have begun implementing their own controls outside the arrangement, suggesting a new multilateral export control regime
• There is the potential for the United States to be omitted from future Wassenaar partner export control discussions

Major U.S.-South Korea Investments, Deals, and Partnerships

March

Date	U.S. Entity	Korean Entity	Project	Location
March 30	Hanwha Defense USA; Hanwha Philly Shipyard; Vard Marine U.S.	N/A	Hanwha Philly Shipyard awarded first U.S. Navy contract as subcontractor for Next Generation Logistics Ship (NGLS) Program	Philadelphia, Pennsylvania
March 30	Applied Intuition	LG Innotek	Strategic partnership to collaborate on Applied Intuition’s Self Driving System (SDS)	N/A
March 26	Yuhan USA	HUINNO	Strategic business agreement to enter the U.S. digital healthcare market	N/A
March 25	General Motors	GM Korea	Additional $300 million investment by GM into its Korea operations, bringing its total investment plan to $600 million	Korea
March 24	Palantir	LIG Nex1	MOU to cooperate on developing the UAE’s AI air defense systems	N/A
March 24	SCSP	Hyundai Motor Group	Announcement that HMG subsidiary Boston Dynamics will participate in SCSP’s National Security Commission on Robotics for Advanced Manufacturing	United States
March 20	Ambarella	Hanwha Vision	Strategic partnership to develop AI video security technologies	N/A
March 19	Molten	Posco Future M	MOU to develop materials for natural graphite anodes	N/A
March 19	OpenAI	Samsung	Agreement for Samsung to supply OpenAI with HBM4 chips	N/A
March 18	AMD	NAVER Cloud	Strategic collaboration to develop sovereign AI infrastructure in Korea	Korea
March 18	MCM Engineering II	LS Electric	$168 million investment into its MCM Engineering subsidiary in Utah to expand switchgear production	Iron County, Utah
March 17	Ultium Cells (GM+LG Joint Venture)	LG Energy Solution	$70 million investment to convert battery production facilities into ESS production facilities	Springhill, Tennessee
March 16	Reflection AI	Shinsegae	MOU to partner on building $6.7 billion 250MW AI Data Center in Korea	Korea
March 16	NVIDIA	Samsung	Announcement by NVIDIA that Samsung is manufacturing the Groq3 Language Processing Unit (LPU) chip for NVIDIA	N/A
March 16	N/A	Samsung SDI	$1 billion supply contract to supply ESS batteries from Starplus Energy Plant joint venture to a U.S. energy company through 2029	Kokomo, Indiana
March 15	Venture Global	Hanwha Aerospace	LNG purchase agreement for Hanwha to receive LNG from Venture Global	N/A
March 11	Palantir	LG CNS	Strategic Partnership to deploy AI transformation (AX) initiatives across LG Group	N/A
March 10	Lilly	Samsung Biologics	Collaboration agreement for Lilly to establish a Gateway Labs site in Korea	Korea
March 10	Applied Materials	SK Hynix	Long-term R&D collaboration agreement to develop DRAM and HBM chips at AM’s EPIC Center in California	Sunnyvale, CA
March 9	Lilly	Korean Ministry of Health and Welfare	MOU for Lilly to invest $500 million over five years into Korea’s pharmaceutical and bio industry	Korea
March 6	N/A	Doosan Enerbility	Contract to supply seven gas turbines for a U.S. client	United States
March 4	Supermicro	SK Telecom	MOU alongside French company Schneider Electric to develop solutions for AI data center construction	N/A

February

Date	U.S. Entity	Korean Entity	Project	Location
February 23	Founder First Fund	BoxLadder	MOU to jointly plan and operate a U.S. investment accelerator for startups	United States
February 22	FieldAI	Hyundai Motor Group	Investment by HMG into FieldAI robotics software startup to focus on physical AI at construction and industrial sites	N/A
February 20	Georgia Theatre Company; GDC Technology America	Samsung Electronics	Supply of Samsung’s Onyx LED product to Trilith Cinemas in Fayetteville, Georgia	Fayetteville, Georgia
February 13	N/A	CitiBank Korea	Opening of a Citibank Korea Chicago Desk to service Korean companies entering the North American market	Chicago, Illinois
February 12	Google	Kakao	Partnership to develop on-device AI services for Google AI glasses as well as cloud infrastructure expansion	N/A
February 11	Applied Materials	Samsung Electronics	Announcement that Samsung will join AM’s $5 billion EPIC Center in California for semiconductor R&D	Sunnyvale, CA
February 11	N/A	Hanjin	Expansion of Hanjin’s second LA fulfillment center	Los Angeles, CA
February 10	CES Consulting	Korea Expressway Corporation	Strategic MOU for Korea Expressway Corporation to expand into the U.S. market	United States
February 10	N/A	LS Cable Systems America (LCSA)	$482 million extra-high voltage cable supply contract in the United States	United States
February 10	U.S. Navy	SK Oceanplant	Master Ship Repair Agreement (MSRA) for SK Oceanplant to conduct Maintenance, Repair, and Overhaul (MRO) work for the Navy	N/A
February 4	Persona AI	POSCO	MOU to implement humanoid robots for POSCO’s steel production logistics management	N/A

January

Date	U.S. Entity	Korean Entity	Project	Location
January 30	Tesla	Samsung SDI	$2 billion ESS battery supply contract	N/A
January 28	N/A	SK Hynix	Announcement by SK Hynix to establish $10 billion AI solutions firm in the United States tentatively called “AI Co.” through restructuring of Solidigm subsidiary	United States
January 27	Microsoft	SK Hynix	Exclusive contract for SK Hynix to supply HBM3E chips to Microsoft’s Maia 200 AI accelerator	N/A
January 26	N/A	iMarketKorea, K-sure, Citibank Korea	Financial support agreement for iMarketKorea to develop Gradiant Technology Park in Texas	Texas
January 21	U.S. Naval Supply Systems Command (NAVSUP)	HJ Heavy Industries	MSRA qualifying HJ Heavy Industries to bid on MRO projects	N/A
January 20	Eastman	Kolmar Korea	Collaboration to develop eco-friendly makeup materials	N/A
January 20	Palantir	HD Hyundai	Agreement to expand partnerships across HD Hyundai’s affiliate groups	N/A
January 20	TerraPower	KHNP	Announcement that KHNP is joining SK’s $250 million investment into TerraPower	N/A
January 20	Pinkfong Company	Terrapin Station Entertainment	Partnership to collaborate on family-friendly live show concert experiences	N/A
January 15	OpenAI	LG CNS	Announcement that LG CNS signed a reseller contract with OpenAI for ChatGPT Enterprise services	N/A
January 15	U.S. Department of Energy (DOE), Oak Ridge National Laboratory (ORNL), University of South Carolina (USC)	Samsung Electronics	Announcement by Samsung that it is collaborating with ORNL and USC to develop technology reducing energy consumption in dryers as part of $2.4 million DOE funding grant	United States
January 14	Alta Resource Technologies	Korea Zinc	Strategic partnership joint venture to produce rare earth oxides in the United States	United States
January 14	HavocAI	Hanwha Defense USA, Hanwha Systems Co	Announcement to jointly develop autonomous surface vessels (ASVs)	N/A
January 12	Nano Nuclear Energy	DS Danseok	Strategic cooperation MOU for the development and commercialization of Micro Modular Reactor (MMR) technology	N/A
January 12	Boston Dynamics	Etiverse	Partnership for Etiverse to become an authorized reseller for Boston Dynamics	N/A
January 9	Burns & McDonnell	Korea Electric Power Corp. (KEPCO)	Transmission grid technology consulting contract	United States
January 7	U.S. Navy	HD Hyundai Heavy Industries	Contract for MRO of USNS Cesar Chavez	N/A
January 7	Qualcomm	Hyundai Mobis	Comprehensive agreement to co-develop Software-Defined Vehicle (SDV) and Advanced Driver Assistance Systems (ADAS)	N/A
January 7	N/A	T.E. USA	$66 million contract to support power grid infrastructure	Riverside, California
January 7	Factorial Inc.	POSCO Future M	Investment agreement by POSCO into Factorial to target the ESS battery market	United States
January 7	N/A	Sam Chung Dang Pharmaceutical	Term sheet with U.S. company for U.S. licensing and sales of leuprorelin cancer drug	N/A

Major U.S.-Korea Trade and Diplomacy Meetings

Sourced from a review of Ministry of National Defense (MND), Ministry of Foreign Affairs (MOFA), Ministry of Trade, Industry and Resources (MOTIR), Ministry of Finance and Economy (MOFE), Bank of Korea, and Financial Supervisory Commission (FSC) press releases and briefings.

March 31

During a visit to South Korea, U.S. representatives Ami Bera (D-CA), Ryan Zinke (R-MT), Mark Pocan (D-WI), Mary Gay Scanlon (D-PA), Jill Tokuda (D-HI), and Patrick Harrigan (R-NC) meet with South Korean President Lee Jae Myung to discuss, among other topics, the U.S.-South Korea alliance, Korea’s investment in U.S. manufacturing, and impacts from the conflict in the Middle East.

March 26–29

South Korean Minister of Trade Yeo Han-koo leads a government delegation, which includes Minister of Foreign Affairs Cho Hyun, Minister of Agriculture, Food and Rural Affairs Song Mi-ryung, and Minister of Oceans and Fisheries Hwang Jong-woo, to the fourteenth WTO Ministerial conference in Yaounde, Cameroon.

While in attendance, Minister Yeo meets with U.S. Trade Representative Jamieson Greer to discuss ongoing issues related to non-tariff barriers, noting that South Korea will “work to resolve misunderstandings” and will continue to hold their joint free trade agreement committee meeting.

USTR issues a press release stating that the WTO Ministerial “ended in impasse,” citing that an agreement to extend the Moratorium on Customs Duties on Electronic Transmissions until 2030 was blocked by Brazil and Turkey, preventing “moving forward with a U.S.-driven reform agenda that all Members endorsed.”

Greer states that he has “always been skeptical of the value of the WTO” and that the “organization will play only a limited role in future global trade policy efforts.”

March 26–27

Foreign Minister Cho attends the G7 Foreign Ministers’ meeting in Yvelines, France, to discuss Korea’s chairmanship of the FORGE Critical Minerals Ministerial and hold a sideline bilateral meeting with the United States.

March 16

At the request of the United States, U.S. Secretary of State Marco Rubio and South Korean Foreign Minister Cho Hyun hold a phone conversation on the conflict in the Middle East and the Strait of Hormuz closure, as well as cooperation on the return of Korean citizens.

March 14–15

South Korean Minister of Trade, Industry and Resources Jung-Kwan (JK) Kim attends the inaugural Indo-Pacific Energy Security Ministerial and Business Forum (IPEM) in Tokyo, co-hosted by the U.S. National Energy Dominance Council (NEDC) and Japan’s Ministry of Economy, Trade and Industry. While in attendance, he signs a bilateral MOU with the United States for the joint development of critical mineral resources and meets with U.S. Energy Dominance Council Chairman and Secretary of the Interior Doug Burgum.

March 12

South Korean Prime Minister Kim Min-seok meets with U.S. Vice President JD Vance at the White House. The two review progress on the U.S.-Korea Joint Fact Sheet and discuss South Korea’s recently passed Special Act on Investment in the United States. Discussion also covers cooperation on critical minerals, shipbuilding, and nuclear-powered submarines, as well as developments on the Korean Peninsula, while reaffirming coordination on non-tariff barriers and economic and security issues. 

March 6

Industry Minister Kim and Trade Minister Yeo visit Washington, DC, and meet with Commerce Secretary Lutnick and Trade Representative Greer to discuss Korea’s progress toward implementing the tariff agreement, strengthening investment cooperation, convening a joint committee under the KORUS FTA to finalize non-tariff commitments in the joint factsheet, and the recent Supreme Court ruling against IEEPA tariffs and Korea’s upholding of the tariff deal under Section 122 and 232 tariffs.

February 25

MOEF’s Deputy Minister for International Affairs Choi Ji-young attends the virtual G20 Deputy Finance Ministers and Deputy Central Bank Governors Meeting, participating in meetings on boosting investment and fostering economic growth, as well as presenting the discussion outcomes of the Study Group on Global Imbalances, which Korea currently co-chairs.

 February 19

Former South Korean Ambassador to Egypt Kim Yong-hyun attends the inaugural meeting of the U.S.-led “Board of Peace” in Washington, DC (an organization for aiding in the reconstruction of the Gaza Strip) as an observer.

February 4

The United States hosts the first inaugural Critical Minerals Ministerial, attended by fifty-four countries and the European Commission, with representation by Foreign Minister Cho. At the ministerial, the existing Minerals Security Partnership (MSP)—which Korea chairs until June 2026—was relaunched as the Forum on Resource Geostrategic Engagement (FORGE).

Minister Cho meets with U.S. Secretary of Energy Chris Wright to discuss the implementation of the U.S.-South Korea Joint Fact Sheet and strengthening nuclear cooperation between the two countries.

February 4                                                                                                                                                                                  Foreign Minister Cho meets with U.S. senators Tom Cotton (R-AR) and Andy Kim (D-NJ) in Washington, DC, to exchange views on the U.S.-South Korea alliance and avenues for strategic industrial cooperation.

February 3                                                                                                                                                                                 Secretary of State Rubio meets with Foreign Minister Cho during Minister Cho’s visit to the United States for the Ministerial Meeting on Essential Minerals. They discuss the implementation of the U.S.-South Korea Joint Fact Sheet, North Korea-related issues and the U.S.-South Korea alliance, and South Korea’s regional engagement with China and Japan.

February 2  

Foreign Minister Cho meets with U.S. senators Tim Kaine (D-VA) and Jeff Merkley (D-OR) in Washington, DC, to discuss the U.S.-South Korea Joint Fact Sheet and U.S.-South Korea alliance cooperation.

January 29

Industry Minister Kim visits Washington, DC, for planned meetings with U.S. Trade Representative Greer, Commerce Secretary Lutnick, and other U.S. officials to discuss the delayed implementation of the U.S.-South Korea trade deal. 

January 28                                                                                                                                                                                     The United States and South Korea hold the third consultation of the Korea-U.S. Commercial Visit and Visa Working Group in Seoul to discuss U.S. visa policies and the smooth implementation of Korean investments in the United States. The Korean government delegation consists of representatives from the Ministry of Foreign Affairs, the Ministry of Trade, Industry and Resources, and the Ministry of SMEs and Startups. The U.S. delegation consists of representatives from the U.S. Department of State, the U.S. Department of Homeland Security, and the U.S. Department of Commerce.

January 26                                                                                                                                                                                South Korean Minister of National Defense Ahn Gyu-back meets with U.S. Deputy Under Secretary of Defense for Policy Elbridge Colby in Seoul to discuss the security situation on the Korean Peninsula, nuclear-powered submarines, the transition of wartime operational control (OPCON), and defense capabilities. The two sides reaffirm their commitment to maintaining a strong combined defense posture. Foreign Minister Cho also holds a meeting with Under Secretary Colby.

January 23

Trade Minister Yeo and Industry Minister Kim attend the 2026 World Economic Forum (WEF) meeting in Davos, Switzerland. Minister Yeo holds a sideline meeting with U.S. Trade Representative Greer to discuss ongoing U.S.-South Korea trade issues. He also meets with Michigan Governor Gretchen Whitmer, California Governor Gavin Newsom, Kentucky Governor Andy Beshear, and U.S. Senator Chris Coons (D-DE) to discuss Korean investment in the United States.

January 22–24

South Korean Prime Minister Kim visits the United States. He meets with U.S. Representatives Young Kim (R-CA), Ami Bera (D-CA), Joe Wilson (R-SC), Marilyn Strickland (D-WA), Michael Baumgartner (R-WA), Dave Min (D-CA), John Moolenaar (R-MI), and Ryan Mackenzie (R-PA) to discuss the U.S.-South Korea alliance, economic security commitments in critical minerals and shipbuilding, and U.S.-South Korea-Japan cooperation.

Prime Minister Kim also discusses the Partner with Korea Act, aiming to bring up to 15,000 Korean professionals to the United States annually. He also discusses the Korean government’s response to the Coupang situation and the impact of the Hyundai raid in Georgia.

On the second day of his visit, Prime Minister Kim met with U.S. Vice President Vance alongside South Korean Ambassador to the United States Kang Kyung-wha to discuss the implementation of the U.S.-South Korea Joint Fact Sheet and follow-up measures to bilateral tariff negotiations, as well as the Coupang digital services issue.

Prime Minister Kim proposes sending a special U.S. envoy to North Korea. He also invites Vice President Vance to visit South Korea.

On the third day of his visit, Prime Minister Kim travels to New York and meets with New York State Representatives Ron Kim and Grace Lee, as well as the mayors of Palisades Park and Englewood Cliffs, Chong Paul Kim and Mark Park.

The visit is the first standalone visit to the United States by a South Korean prime minister since the late 1980s.

Upcoming Meetings, Conferences, and International Events

Date	Event	Location
April 27–30	King Charles III and Queen Camilla’s Visit to the United States	New York City, Washington, DC, and Virginia
May 3–8	SelectUSA	National Harbor, MD
May 6–8	AI Expo Korea	COEX, Seoul
May 7–9	SCSP AI+ Expo	Walter E. Washington Convention Center, DC
May 14–15	G20 Finance Deputies’ Meeting	Fort Lauderdale, FL
May 14–15	President Trump visit to China	Beijing, China
May 20–21	Asian Leadership Conference	Shilla Hotel, Seoul, South Korea
May 28	Bank of Korea Monetary Policy Board Meeting	Seoul, South Korea
May 29–31	Shangri-La Dialogue	Shangri-La Hotel, Singapore
June 3–4	OECD Ministerial	Paris, France
June 15–17	52nd G7 Summit	Évian-les-Bains, Haute-Savoie, France
June 22–25	Bio International Convention	San Diego, California
June 24–26	21st Jeju Peace Forum	Haevichi Hotel & Resort Jeju, Korea
July 7–8	2026 NATO Summit	Ankara, Turkey

 

Tom Ramage is Economic Policy Analyst at the Korea Economic Institute of America (KEI). Soobeen Park is a Research Intern at KEI. The views expressed are the authors’ alone.

Feature image from The White House.

KEI is registered under the FARA as an agent of the Korea Institute for International Economic Policy, a public corporation established by the government of the Republic of Korea. Additional information is available at the Department of Justice, Washington, D.C.