South Korean President Lee Jae-myung said on the 19th that he and American President Donald Trump had reached an understanding on mutually beneficial co-operation across a range of areas, explicitly including shipbuilding.
"President Trump and I agreed on a framework for reciprocal co-operation that encompasses shipbuilding," Mr Lee said directly.
The shipbuilding sector has recently risen to prominence as a key item on the bilateral agenda. The United States, seeking to rebuild the competitiveness of its own shipbuilding industry — which has long lagged behind Asian rivals — has been looking to South Korea as a potential partner. South Korea is home to some of the world's largest and most technically advanced shipyards, operated by conglomerates such as HD Hyundai and Hanwha Ocean.
Mr Lee's comments suggest that economic co-operation discussions between the two leaders are moving beyond generalities. Collaboration in shipbuilding is also intertwined with broader trade and security considerations between the two allies.
Specific details of the co-operation arrangements and any follow-up measures are expected to be announced in due course.