Washington: The United States and South Korea signed 11 memoranda of understanding (MoUs) on Tuesday to enhance bilateral cooperation across several key industrial sectors, including shipbuilding, nuclear energy, aviation, liquefied natural gas, and base metals.

According to National Iraqi News Agency, the MoUs were finalized during a business roundtable in Washington, which followed the inaugural summit between Korean President Lee Jae Myung and US President Donald Trump. These agreements signify a strategic effort by both nations to strengthen their industrial ties and foster economic collaboration.

Korean Industry Minister Kim Jong-kwan emphasized the importance of these agreements, stating that the government would provide “all necessary institutional support to revive industrial cooperation between the two countries and create broad job opportunities for Korean and American companies.” The MoUs are expected to pave the way for increased investments and joint ventures, bolstering economic growth and innovation in both countries.