Yoon Meets with U.S. President Biden for 48 Seconds... Official Summit Falls Through

by Bae Kyunghwan

Published 22 Sep.2022 10:07(KST)

Updated 22 Sep.2022 10:46(KST)

Unexpectedly Attended the 'Global Fund Financial Pledge Meeting' and Had a Conversation... US-ROK Summit Virtually Unsuccessful

President Yoon Suk-yeol and U.S. President Joe Biden are having a conversation after attending the Global Fund Financing Pledge Meeting held at a building in New York, USA, on the 21st (local time). /

[Asia Economy Reporter Baek Kyunghwan] On the 21st (local time), President Yoon Seok-yeol had a brief standing conversation lasting about 48 seconds with U.S. President Joe Biden in New York, USA. Although a Korea-U.S. summit was initially planned, the two leaders ended up meeting briefly due to President Biden’s political schedule. As President Yoon’s schedule in New York also came to a close, the possibility of additional meetings is low.

On the same day, President Yoon attended the '7th Global Fund Replenishment Conference' held in downtown New York. The event was hosted by President Biden and Yoon’s invitation was unexpected. A presidential office official explained before the meeting, "President Yoon was not originally an invitee, but he was invited to this conference." From the presidential office’s perspective, negotiations were conducted with the intention of holding the Korea-U.S. summit by any means, and accordingly, President Yoon attended the conference and met with President Biden.

After the event ended, President Yoon was called on stage for the second time to take a group photo, and while freely conversing with various world leaders, he encountered President Biden. President Yoon shook hands with President Biden and engaged in conversation for about 48 seconds. He also showed friendliness by placing his hand on President Biden’s shoulder.

The content of the conversation between the two leaders has not been disclosed. Although the time was less than a minute, it is possible that concerns regarding a series of 'Made in America' laws such as the Inflation Reduction Act (IRA) and the CHIPS Act were conveyed.

As the Global Fund Replenishment Conference ran longer, President Yoon’s attendance at the Korea-U.S. Startup Summit and the K-Brand Expo, which he was scheduled to attend, was canceled. Originally, President Yoon planned to attend economic-related events to encourage businesspeople from both countries and return with concrete achievements such as the establishment of joint funds and attracting investment.

The Korea-U.S. summit fell through because President Biden shortened his stay in New York due to domestic political schedules, including the High-Dollar Political Contributions Transparency Act. President Biden also did not deliver a keynote speech at this year’s United Nations General Assembly. It is reported that President Biden stayed in Washington, not New York, at that time.