Lee touts shipbuilding cooperation with Trump at New York investment event
President Lee Jae Myung told Wall Street investors that cooperation with U.S. President Donald Trump on naval shipbuilding could yield "tangible results."
Korean President Lee Jae Myung, front row center, poses for a commemorative photo with Wall Street executives during the Korea Investment Summit 2026 on the margins of the United Nations General Assembly in New York on Sept. 23.JOINT PRESS CORPS
NEW YORK — President Lee Jae Myung said that he had discussions with U.S. President Donald Trump on the shipbuilding sector, namely the construction of naval vessels, and looks forward to more “tangible results” in the future as he spoke to Wall Street investors in New York on Wednesday.
“Korea and the United States are key partners supporting each other’s industrial and economic security,” Lee said at the Korea Investment Summit 2026. “We anticipate that this cooperation will extend beyond prosperity to contribute to peace on the Korean Peninsula."
Referring to his surprise summit with Trump on the margins of the United Nations General Assembly Tuesday night, Lee said, “I look forward to seeing even more tangible results in the future.”
During the 30-minute summit, Lee and Trump discussed cooperation in areas such as nuclear-powered submarines, civil enrichment and reprocessing and shipbuilding, National Security Adviser Wi Sung-lac said Tuesday.
“I invite you to join us as partners in Korea’s growth and great leap forward,” Lee said at the investment event attended by 30 leaders from the economic and financial sectors of both countries.
“I believe that an evolving Korea-U.S. alliance serves as the foundation for our shared prosperity,” he said. “By combining U.S. core technologies, capital and vast markets with Korea’s manufacturing and supply capabilities, our high-tech industries and supply chains are becoming more closely integrated than ever before.”
He highlighted significant investments in states including Texas, Indiana, Georgia and Maryland by major Korean companies including Samsung Electronics, SK hynix, Hyundai Motor and Samsung Biologics.
Lee noted that “cooperation in the shipbuilding sector is also becoming more concrete,” with plans in place to build U.S. strategic naval vessels at Philly Shipyard, with Hanwha investing. He also referred to collaboration on the development of the U.S. military’s next-generation firepower systems.
Following the inaugural Korea Investment Summit held in New York in September of last year, Lee personally briefed global investors on Korea’s strengthened macroeconomic conditions and market reforms achieved over the past year.
He also shared his government’s "three megaprojects" in semiconductors, physical AI and AI data centers, alongside seven "seed" industries designated as next-generation growth engines.
“We plan to expand semiconductor production hubs to double our memory production capacity within five years and establish a resilient AI supply chain capable of withstanding any shock,” Lee said.
President Lee Jae Myung, center, speaks during the Korea Investment Summit 2026 on the margins of the United Nations General Assembly in New York on Sept. 23.JOINT PRESS CORPS
Participants of this year’s event included Larry Fink, chairman and CEO of BlackRock; Jane Fraser, chair and CEO of Citi; Timothy Geithner, chairman of Warburg Pincus; Emmanuel Roman, CEO of Pacific Investment Management Company; and Jenny Johnson, CEO of Franklin Templeton.
Executives from Bank of America, Goldman Sachs, Lazard Asset Management, Ares Management, Macquarie, Brookfield, Franklin Templeton and Blackstone also attended.
On the Korean side, executives from companies including Samsung Biologics, SK, Hyundai Motor, LG CNS, Hanwha Ocean, Doosan Enerbility and APR attended the event.
“The global economic order is undergoing turbulent changes, yet amidst this, our economy is demonstrating remarkable resilience and future growth potential,” Lee said.
He cited key economic indicators such as monthly exports surpassing a record $100 billion in June and a projected annual export total of $1 trillion.
“I invite you to join us on the path toward a major leap in cutting-edge industries, a journey that Korea will spearhead,” Lee said.
He shared the Korean government’s efforts to transform its investment strategies to keep pace with the rapid evolution of future industries, including actively reinvesting the gains from the AI semiconductor boom into core infrastructure for cutting-edge industries and talent development.
"You may have previously viewed the Korean stock market as being undervalued, but it appears to be breaking free from that status," Lee said. “We will strive for further improvements, and I believe these efforts will enable us to achieve a proper market valuation that far exceeds our current standing.”
