Yoon Departs to Attend APEC and G20 Summits... Will a Surprise Meeting with Trump Take Place?

Meeting with US President-elect Trump Planned
Cooperation Reaffirmed at June 15 Korea-US-Japan Summit
Talks with Xi Jinping, Chinese President, and Shigeru Ishiba, Japanese Prime Minister
"Expanding Diplomatic Horizons and Practical Cooperation to Latin America"

President Yoon Suk-yeol will depart on the 14th to attend the Asia-Pacific Economic Cooperation (APEC) summit in Peru and the Group of Twenty (G20) summit in Brazil, held from the 14th to the 21st. During this trip, the leaders of South Korea, the United States, and Japan will meet to discuss ways to advance cooperation following the change of administration, and bilateral talks will be held with China and Japan.

In particular, President Yoon is actively pursuing a meeting with U.S. President-elect Donald Trump toward the end of the trip. Given the heightened concerns in the economic and industrial sectors regarding the "America First" policy, an early meeting would be significant as a foundation for preparing for the "Trump 2.0" era. With security anxieties rising due to North Korea's deployment of troops to Russia and the administration's approval ratings hitting record lows, attention is focused on whether President Yoon can create a turning point through strengthened global diplomacy.

Yonhap News

South Korea-U.S.-Japan Summit on the 15th in Peru... Institutionalizing Cooperation

The Presidential Office announced on the 14th that during the APEC summit in Lima, Peru, the leaders of South Korea, the United States, and Japan will hold a trilateral summit. The office explained, "This meeting will be a summit involving President Yoon, outgoing President Biden, and newly inaugurated Prime Minister Ishiba, reaffirming the importance of trilateral cooperation."

South Korea, the U.S., and Japan have been continuously discussing holding a trilateral summit before President Biden's term ends, and they decided to confirm their cooperation during the APEC period. Previously, the three leaders held a summit at Camp David, the presidential retreat near Washington D.C., in August last year, and they are expected to meet again 15 months before President Biden's departure to discuss the succession of the "Camp David Declaration."

President Yoon, U.S. President Biden, and Japanese Prime Minister Kishida walking together along a trail for the trilateral summit joint press conference at Camp David, the U.S. presidential retreat near Washington DC, on August 18, 2023 (local time). Photo by Yonhap News.

Jake Sullivan, U.S. National Security Advisor, emphasized during a briefing on the 13th (local time), "President Biden will meet with President Yoon and Japanese Prime Minister Ishiba to commemorate historic trilateral cooperation and discuss the importance of institutionalizing the progress made so that cooperation can continue to advance even after the change of administration."

The biggest focus of this trip is whether a meeting between President Yoon and President-elect Trump will be realized. The Presidential Office is currently making final arrangements for a meeting with President-elect Trump, and if successful, the scheduled return on the 21st may be subject to change. It is known that President Yoon has started practicing golf to improve relations with golf enthusiast President-elect Trump. Even if a golf meeting does not take place during this trip, the practice is intended to prepare for the next meeting. A senior official from the Presidential Office said, "For conversations to continue with President-elect Trump, our president also needs to hit the ball well, so starting practice is necessary at least."

Bilateral Talks with Chinese President Xi Jinping Planned

During this trip, President Yoon plans to hold bilateral talks with Chinese President Xi Jinping. This will be the first South Korea-China summit in two years since November 2022, and it is important as it could open a new chapter in relations with China amid anticipated major changes in the global landscape with the "Trump 2.0" era. Especially since Trump is likely to continue a tough stance on China and sharp issues such as North Korea are intertwined, it is analyzed that a strategic framework for future China relations must be established through this meeting. The Presidential Office explained, "If the South Korea-China summit takes place, discussions will focus on broad cooperation between the two countries rather than specific agendas."

President Yoon will also hold bilateral talks with Japanese Prime Minister Ishiba Shigeru during this trip. This will be their second bilateral meeting following the ASEAN summit last month. Kyodo News reported that Prime Minister Ishiba is coordinating to hold a summit with President Yoon on the 16th in Peru during the APEC summit.

On the morning of the 15th, President Yoon will deliver a speech as the chair of next year's APEC during the first session of the APEC summit, emphasizing South Korea's leadership in discussions to create a free and stable trade and investment environment. He will then attend the 'Dialogue with the APEC Business Advisory Council' and the 'CEO Summit.'

On the 16th, he will participate in the 'Retreat' event where APEC leaders foster camaraderie and begin official visits in Peru, including a summit with Peruvian President Dina Boluarte. This is the first time since his inauguration that President Yoon will visit a Latin American country and hold individual bilateral talks. President Yoon and President Boluarte plan to hold a commemorative event signing a nameplate to be attached to ships built by Korean companies at a Peruvian shipyard.

MOU Signing with Peru in Defense, Minerals, Tourism, and ICT

Especially with Peru, a key ally in Latin America, multiple cooperation MOUs are expected to be signed focusing on defense, key minerals, tourism, and information and communication technology (ICT). A Presidential Office official said, "Peru is the second South American country after Chile to sign a Free Trade Agreement (FTA) with South Korea," adding, "It is a mineral-rich country ranked second in the world in copper production, second in zinc, and third in molybdenum, so mutually complementary economic cooperation can be expected."

On the 17th, President Yoon will move to Rio de Janeiro, Brazil, where the G20 summit will be held. On the first day of the G20 summit, the 18th, he will attend the 'Global Alliance to End Hunger and Poverty Launch Ceremony' and present specific contributions in sessions aimed at eradicating social poverty and hunger. President Yoon plans to announce the expansion of global food aid projects and call for G20-wide efforts to support developing countries' growth as a fundamental solution to hunger and poverty. On the 19th, in a session themed 'Sustainable Development and Energy Transition,' he will propose international cooperation to overcome the climate crisis and transition to clean energy, expressing a constructive commitment to addressing plastic pollution.

Kim Tae-hyo, First Deputy Director of the National Security Office, explained, "Through this summit, President Yoon will emphasize the need for solidarity that a rules-based international order must be upheld for a sustainable future of the international community, serving as a bridge connecting developing and developed countries." He added, "During the trip, President Yoon plans to hold bilateral talks with multiple countries including Vietnam, Mexico, Brunei, and Japan, discussing various practical cooperation." First Lady Kim Keon-hee will not accompany the president on this trip.