By Diplomacy Journal Lee Jon-young

President Lee Jae-myung met with US Treasury Secretary Scott Bessent during his visit to the United Nations General Assembly on September 24. He stated, "While the US and Japan recently reached an agreement on an 'Investment Package with the US,' Korea differs significantly from Japan in terms of economic scale, foreign exchange market, and infrastructure. I hope these aspects will be taken into consideration and that negotiations will proceed smoothly."

Kim Yong-beom, Chief of Staff to the President for Policy, announced this during a briefing at a press center in a New York hotel on September 24 (local time). "President Lee met with Secretary Bessent at the UN at 2:00 PM," he said. The meeting between President Lee and Secretary Bessent reportedly lasted approximately 30 minutes.

According to Kim, President Lee stated, "The ROK-US relationship is a very important alliance, and close cooperation between the two countries, not only in terms of security but also in economic aspects, is crucial for maintaining and developing the ROK-US alliance." He continued, "Cooperation between our two countries is progressing well in terms of security," adding, "Good consultations are also necessary in the area of trade."

President Lee added, "Regarding the investment package with the United States, I hope discussions will progress in a direction that serves the interests of both Korea and the United States, based on commercial rationality."

Secretary Bessent responded, "The ROK-US alliance is strong, and while there may be temporary or short-term difficulties, we can overcome them." He added, "US President Donald Trump is well aware of the critical importance of Korea to the United States, and has repeatedly emphasized that Korea is a crucial partner, particularly in areas such as shipbuilding."

He continued, "South Korea's investment and cooperation in areas such as shipbuilding, which the US emphasizes as key areas, is crucial, and we appreciate South Korea's active support."

Secretary Bessent added, "I understand that significant progress has been made in bilateral trade negotiations and related trade. I have fully listened to President Lee's comments on investment cooperation with the US, and we will continue to discuss this matter thoroughly internally."