South Korea-US FMs meet in Manila on alliance issues, Coupang row
Synopsis
South Korea and the US squeezed in a diplomatic pull-aside in Manila amid a crowded alliance agenda — a USD 350 billion investment deal still being operationalised, a Coupang regulatory spat drawing White House criticism, and security consultations on nuclear submarines yet to be rescheduled. The meeting is brief, but the unfinished business is substantial.
Key Takeaways
Foreign Minister Cho Hyun and US Secretary of State Marco Rubio held pull-aside talks in Manila on 22 July on the sidelines of ASEAN-related meetings.
The meeting followed a trilateral session with Japanese FM Toshimitsu Motegi — the first Cho-Rubio bilateral since February .
The US raised concerns over South Korea's regulatory actions against Coupang ; Seoul maintained the measures were lawful and non-discriminatory.
Both sides are working to implement a USD 350 billion South Korean investment package in the US, agreed at the Lee-Trump summit in November last year.
Industry Minister Kim Jung-kwan travelled to the US on Wednesday to meet Commerce Secretary Howard Lutnick ; the first project could emerge 'around August or September.' A new round of security consultations on submarine and civil nuclear cooperation has yet to be formally scheduled, partly due to US engagement in the Middle East .
South Korea's Foreign Minister Cho Hyun and US Secretary of State Marco Rubio held brief 'pull-aside' talks in Manila on Wednesday, 22 July, on the sidelines of Association of Southeast Asian Nations (ASEAN)-related gatherings in the Philippines, according to Seoul's foreign ministry. The meeting addressed a range of unresolved alliance issues, including follow-up actions on a joint fact sheet covering security, trade, and investment commitments.
Context of the Meeting
The bilateral exchange followed a trilateral session involving Japanese Foreign Minister Toshimitsu Motegi, marking the first direct Cho-Rubio engagement since February. The timing underscored the breadth of pending business between the two allies, from economic commitments to defence cooperation frameworks.
Coupang Row Adds Friction
A notable point of tension heading into the meeting was the US government's concern over South Korea's regulatory actions against Coupang, the US-listed e-commerce platform, following a massive data leak. A report by the House Judiciary Committee and a White House official reportedly described Seoul's measures as discriminatory against US companies. Seoul pushed back, expressing regret over such characterisations and maintaining that all regulatory steps were taken lawfully 'in a fair and non-discriminatory manner.'
Investment Package and Tariff Talks
The Cho-Rubio talks also come as both governments work to implement agreements stemming from a summit between South Korean President Lee Jae Myung and US President Donald Trump. That summit produced a joint fact sheet in November last year, under which Seoul committed to a USD 350 billion investment package in the US in exchange for a reduced US tariff rate. In parallel, Washington agreed to support Seoul's push to acquire nuclear-powered submarines and secure uranium enrichment and spent fuel reprocessing capabilities for peaceful purposes.
As discussions over the first concrete project linked to Seoul's investment pledge continue, South Korea's Industry Minister Kim Jung-kwan departed for the US on Wednesday to meet US Commerce Secretary Howard Lutnick. Presidential chief of staff for policy Kim Yong-beom indicated the first project could become visible 'around August or September.'
Security Consultations Still Pending
A new round of security consultations — originally planned for around July following an inaugural session last month — has yet to be formally scheduled. Officials cited US involvement in the Middle East conflict as one factor behind the delay. The consultations are intended to advance discussions on submarine and civil nuclear energy cooperation between the two allies.
With multiple tracks — trade, investment, defence, and regulatory disputes — still in motion, the Manila meeting signals that the Seoul-Washington alliance agenda remains dense and time-sensitive heading into the second half of 2025.
Point of View
But the agenda underneath is anything but. The Coupang dispute is a test case for how far the US will push allies on regulatory alignment — and Seoul's firm 'non-discriminatory' rebuttal suggests it will not capitulate easily. More telling is the pace of the USD 350 billion investment deal: with no confirmed first project eight months after the summit, the gap between headline ambition and ground-level execution is widening. The nuclear submarine and enrichment cooperation track — sensitive by any measure — is also drifting, with no rescheduled consultations in sight. For an alliance that markets itself as a model of Indo-Pacific solidarity, the operational lag is a credibility risk.
NationPress
22 Jul 2026
Frequently Asked Questions
Why did South Korea and US foreign ministers meet in Manila?
Foreign Minister Cho Hyun and Secretary of State Marco Rubio held pull-aside talks in Manila on 22 July on the sidelines of ASEAN-related gatherings to address pending alliance issues, including follow-up on a joint fact sheet covering security, trade, and investment commitments agreed at the Lee-Trump summit.
What is the Coupang dispute between South Korea and the US?
The US expressed concern over South Korea's regulatory actions against Coupang, a US-listed e-commerce firm, following a major data leak. A House Judiciary Committee report and a White House official reportedly described Seoul's measures as discriminatory. Seoul rejected this characterisation, saying all actions were taken lawfully and fairly.
What is the USD 350 billion South Korea investment deal?
It is a commitment by South Korea to invest USD 350 billion in the United States, agreed at a summit between President Lee Jae Myung and US President Donald Trump. In return, the US agreed to reduced tariff rates and support for Seoul's nuclear-powered submarine ambitions and civil nuclear energy capabilities.
When will the first project under Seoul's investment package be announced?
Presidential chief of staff for policy Kim Yong-beom indicated the first project could become visible around August or September, though no specific candidate projects have been publicly confirmed by the Seoul government.
Why have South Korea-US security consultations been delayed?
A second round of security consultations on submarine and civil nuclear cooperation, originally planned for around July, has not yet been formally scheduled. Officials have cited US involvement in the Middle East conflict as one contributing factor to the delay.
