President Lee Jae-myung and U.S. President Donald Trump will hold their second Korea-U.S. summit on the afternoon of the 29th in Gyeongju, North Gyeongsang. The meeting was arranged on the occasion of the Asia-Pacific Economic Cooperation (APEC) summit.
The presidential office said the leaders' meeting comes just two months after their August talks in Washington, D.C., marking the shortest interval for reciprocal visits on record. President Lee arrived in Gyeongju the previous day in his capacity as APEC chair, while President Trump will head to the venue after arriving in Korea on Tuesday morning following his schedule in Japan.
At this summit, tariff negotiations surrounding a $350 billion (about 500 trillion won) investment package in the United States and discussions on modernizing the Korea-U.S. alliance are expected to be key agenda items. The two countries have shown differences over how to manage the investment funds and how to distribute revenue, and attention is on whether a breakthrough can be found at this meeting.
However, the presidential office took a cautious stance, saying, "The gap between the two sides remains large," and noted, "It may be difficult to reach a specific agreement at this summit."
Before the meeting with President Trump, President Lee will attend the opening ceremony of the APEC Chief Executive Officer (CEO) Summit and deliver a special address. He will then continue a breathless schedule with back-to-back bilateral meetings with Japan Prime Minister Sanae Takaichi, China President Xi Jinping, and others.
President Trump is scheduled to discuss trade negotiations with President Xi through a U.S.-China summit on the 30th. Depending on the outcome, it is expected to have a significant impact on the global economic order.
There is also interest in the possibility that President Trump may seek a "surprise meeting" with North Korea Chairperson Kim Jong Un during his visit to Korea. On the 27th, aboard his private jet en route to Tokyo, Japan, President Trump said, "It would be really good to meet Kim Jong Un," signaling his willingness to meet, but Chairperson Kim has not yet responded.