Seoul: President Donald Trump has announced a major trade and investment agreement with South Korea during his visit to Seoul, even as North Korea fired cruise missiles in a show of defiance.

Trump met with South Korean President Lee Jae-myung to finalize the deal, which includes around 350 billion dollars in new South Korean investments in the United States.

About 200 billion dollars will be direct financial commitments, while 150 billion dollars is expected to go toward reviving the U.S. shipbuilding industry with South Korean collaboration. The agreement also sets up a profit-sharing structure, with both nations splitting profits equally until the initial investment is recovered.

A new U.S.-led committee will monitor and approve investment projects under the deal.

Although the

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