Lee begins summit week with Trump in Gyeongju

President Lee Jae-myung begins a “super week of summit diplomacy” on Oct. 29 with a second meeting with U.S. President Donald Trump in Gyeongju, North Gyeongsang Province. The summit, two months after their August meeting in Washington, D.C., could determine the adoption of tariff and security agreements.

Lee will meet Trump on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju in the afternoon of Oct. 29. Trump is in South Korea on a state visit. After returning the night before from a two-day Association of Southeast Asian Nations summit, Lee cleared his schedule on Oct. 28 to prepare for the meeting.

Tariff negotiations are expected to dominate the agenda. In July, South Korea and the United States agreed to cut mutual tariffs from 25 percent to 15 percent, while Seoul pledged to establish a $350 billion investment fund for the U.S. market. The two sides remain at odds on key issues, including the size of direct cash investment, profit sharing and investment targets. A government official said a deal is unlikely at APEC but added that the outcome could change once the leaders meet.

Security issues, including a revision of the nuclear cooperation agreement, are also on the agenda. Officials have drafted a joint factsheet on defense spending and nuclear cooperation, suggesting a separate security agreement could emerge apart from the tariff deal.

Ahead of the APEC summit opening Oct. 31, the APEC Concluding Senior Officials’ Meeting is finalizing the draft of the Gyeongju joint declaration. Observers will watch whether Asia-Pacific nations can reaffirm support for free trade amid rising U.S.-China tensions and growing protectionism.

The APEC CEO Summit opened that afternoon with a welcome dinner at Hwarang Village in Gyeongju. About 1,000 guests attended the 90-minute standing reception, including Prime Minister Kim Min-seok, OECD Secretary-General Mathias Cormann and senior executives from leading domestic and international companies.


Hoon-Sang Park tigermask@donga.com