Finance Minister Koo Yun-cheol says South Korea reached a mutually beneficial trade agreement with the United States within limits that the country could reasonably bear, while protecting its national interests in pursuit of pragmatic diplomacy.

The finance minister, South Korea’s chief negotiator for trade talks with the U.S., presented the assessment during a news briefing on the deal at the South Korean embassy in Washington. 

The minister said there was strong pressure from the U.S. to open the agricultural and livestock markets, and U.S. President Donald Trump also expressed significant interest, but the negotiators persistently highlighted the sensitivity of the South Korean agricultural sector, ultimately gaining the understanding of the U.S. side.

Koo also said a 150 billion dollar shipbuilding cooperation initiative known as the “MASGA project,” short for “Make American Shipbuilding Great Again,” played the most significant role in the outcome of the trade negotiations and is the most noteworthy aspect of the agreement. 

The minister said the project encompasses the construction of new shipyards in the U.S., the training of shipbuilding personnel, the rebuilding of shipbuilding supply chains, vessel construction, and maintenance, repair and overhaul.

He added that South Korea will essentially lead the project based on the needs of South Korean companies, adding that South Korean shipbuilders, known for their world-class design and construction capabilities, can be expected to help revitalize the U.S. shipbuilding sector while opening up new growth opportunities.