Pres. Lee welcomes trade deal with U.S., eliminating export uncertainties

So what is the Presidential Office saying about the efforts of its top economic delegation to seal a deal with the U.S. ahead of Friday's deadline?

To answer this question and more I have Arirang's Yoon Jung-min standing by live at the Yongsan office.

Jung-min welcome.

Let's begin with the president's response to the trade deal.

Sunny. President Lee said the deal has eliminated uncertainties in export conditions, and that South Korea has crossed a "major hurdle."

Take a listen.

"Through flexible, pragmatic diplomacy centered on national interests, we must wisely overcome the waves of the external environment that change fast."

Presiding over a weekly meeting with his aides on Thursday, the President instructed the officials to fully prepare for follow-up measures, as well as long-term tasks, such as expanding consumption at home and diversifying export markets.

Lee added he expects South Korea and the U.S. to further strengthen their economic cooperation and alliance.

Taking to social media earlier, Lee noted the investment fund worth 350-billion U.S. dollars will solidify the foundation of bilateral cooperation in shipbuilding, semiconductors, and rechargeable batteries among others.

In particular, he added 150-billion dollars will be solely committed to shipbuilding to help Korean shipbuilders make inroads into the U.S.

Meanwhile what's the latest regarding the proposed summit between the president and his U.S. counterpart?

The two leaders' first face-to-face talks are expected within two weeks, according to the Presidential chief of staff for policy, Kim Yong-beom.

"I heard President Trump asked Secretary Rubio to set a date for next week, but considering schedules, it'll take place within two weeks."

With a major diplomatic challenge somewhat removed, summit diplomacy between South Korea and the U.S. is expected to pick up speed, which has been stalled since President Lee Jae Myung took office in June.

Details of the summit, including the date, could be discussed when South Korea's Foreign Minister Cho Hyun meets his U.S. counterpart Marco Rubio in Washington on Thursday, local time.

The summit agenda is expected to include setting details of the framework deal.

Security issues, such as the allies' defense cost-sharing and purchasing U.S.-made weapons, were not addressed this time, but they could be brought up when the two leaders meet.

Earlier this morning, South Korea's Defense Minister Ahn Gyu-back spoke over the phone with U.S. Secretary of Defense Pete Hegseth, where they agreed to "modernize" the alliance and expand cooperation in shipbuilding.

Back to you, Sunny.

All right that was our Yoon Jung-min with the response from the Presidential Office regarding Seoul's trade deal with Washington.