Yoon at Summit with Biden: "North Korea Gains Nothing from Nukes... Strengthening Extended Deterrence"

US-ROK Summit in Phnom Penh, Cambodia
President Yoon Notifies Participation in Pacific Island Countries Cooperation Initiative 'PBP'
Biden Shows Positive Response Regarding IRA

[Image source=Yonhap News]

[Phnom Penh (Cambodia) = Asia Economy Reporter Ki-min Lee] On the 13th, President Yoon Suk-yeol met with U.S. President Joe Biden and emphasized that "we must show North Korea that it can gain nothing through nuclear weapons and missiles, and to this end, it is necessary to effectively and innovatively strengthen the extended deterrence between South Korea and the U.S. in accordance with North Korea's advanced nuclear capabilities."

In particular, he shared South Korea's Indo-Pacific strategy and informed President Biden of South Korea's participation in the Pacific Islands Partnership (PBP), a Pacific island countries cooperation initiative. Additionally, the summit showcased a positive stance from both leaders regarding the resolution of issues related to the U.S. Inflation Reduction Act (IRA).

President Yoon held a summit with President Biden at a hotel in Phnom Penh, Cambodia, in the afternoon, where they discussed the North Korean nuclear issue, the combined defense posture between South Korea and the U.S., major economic issues including the U.S. Inflation Reduction Act, as well as regional and global matters, according to the Blue House.

President Yoon evaluated, "Since President Biden's visit to Korea last May, the Korea-U.S. alliance has entered a new phase of advancement, and at this turning point in the international order, the Korea-U.S. alliance has become our most reliable compass amid various new challenges," and requested close cooperation from the U.S. to realize a global comprehensive strategic alliance between the two countries.

Regarding responses to North Korea's repeated military provocations, the two leaders agreed to "maintain and strengthen seamless cooperation and a robust combined defense posture between South Korea and the U.S. They reaffirmed that if North Korea uses nuclear weapons in any form, both countries will respond with overwhelming force using all available means."

President Biden reaffirmed the U.S.'s ironclad defense and extended deterrence commitments to South Korea and said, "Regarding ways to strengthen extended deterrence, both sides will continue to consult closely going forward."

The two leaders also had positive discussions about the U.S. Inflation Reduction Act (IRA), which is expected to impact South Korean automobile companies. President Yoon stated, "The consultation channels between South Korea and the U.S. regarding the IRA are operating closely," and evaluated, "Last October, President Biden confirmed the U.S. side's sincere willingness to consult on the IRA through a letter."

President Biden responded, "Korean companies contribute significantly to the U.S. economy in areas such as automobiles and electric batteries," and added, "Considering this, the implementation measures of the IRA should be discussed."

President Yoon also mentioned, "As global fiscal tightening increases downward pressure on the world economy, I hope for closer economic cooperation between South Korea and the U.S."

Explaining South Korea's Indo-Pacific strategy announced at the ASEAN-related meeting, President Yoon described ASEAN and Pacific island countries as very important cooperation partners in South Korea's Indo-Pacific strategy.

President Yoon particularly said, "Regarding cooperation with ASEAN and Pacific island countries, I hope South Korea and the U.S. will closely coordinate," and informed, "To this end, our government has decided to officially participate in the PBP."

The PBP is a Pacific island countries cooperation initiative proposed by the U.S., Japan, Australia, New Zealand, and the U.K., launched in June. Its main objectives are to coordinate cooperation among like-minded countries related to Pacific island countries, share best practices, and discover cooperative projects.

President Biden expressed, "I appreciate South Korea's independent Indo-Pacific strategy and look forward to further strengthening cooperation between South Korea and the U.S. in the Indo-Pacific region," and welcomed South Korea's decision to participate in the 'Pacific Islands Partnership' initiative.

The two leaders also agreed that next year, marking the 70th anniversary of the Korea-U.S. alliance, will be another milestone in the alliance's development, and decided to meet again in Washington in 2023 to celebrate the 70th anniversary together and hold in-depth discussions on the future development direction of the Korea-U.S. alliance.

This content was produced with the assistance of AI translation services.