US, Korea Hail ‘Significant Progress’ on $350 Billion Trade Deal

By Soobin Kim

Sep 23, 2026 (Bloomberg) –Donald Trump and South Korean President Lee Jae Myung hailed “significant progress” on implementing the two countries’ long-stalled investment deal, with lawmakers in Seoul saying the first project would be a $22.3 billion gas-fired power development in Texas. 

Trump and Lee met for roughly 30 minutes at the United Nations General Assembly in New York, South Korea’s National Security Advisor Wi Sung-lac, said. They “welcomed the significant progress made in discussions regarding strategic investment projects between the two nations,” he added.

Selecting specific projects under a $350 billion pledge South Korea made last year as