By Ju-min Park and Kanishka Singh

SEOUL/WASHINGTON (Reuters) -The U.S. and South Korea released details of a trade agreement on Friday that includes a $150 billion Korean investment in the American shipbuilding sector and an additional $200 billion earmarked for industrial sectors, the two countries said.

The joint announcement followed a meeting in October between South Korean President Lee Jae Myung and U.S. President Donald Trump, where they agreed to a deal that would cut American import duties on South Korea’s products to 15% from 25%.

“Finally, the South Korea-U.S. trade, commerce, and security negotiations, which were among the biggest variables affecting our economy and security, are … concluded,” Lee said on Friday.

“Good competition requires excellent partners, and I believe

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