Korea-Japan Summit in Busan Today: Shuttle Diplomacy Restored and Established... Possibility of 'Tariff Negotiations' Discussed

President Lee Jaemyung and Japanese Prime Minister Shigeru Ishiba will hold a summit and dinner today (the 30th) in Busan. This meeting comes just one month after the Korea-Japan summit held in Tokyo on August 23, marking the restoration and establishment of shuttle diplomacy between the two countries. There is particular interest in whether discussions on the U.S. tariff negotiations will continue during Prime Minister Ishiba's return visit. The Office of the President stated that tariff negotiations are not an official agenda item for the Korea-Japan summit, but did leave open the possibility of exchanging views on current issues.

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This is the third meeting between the two leaders this year, including their bilateral contact at the Group of Seven (G7) summit in Canada. Both sides are expected to review the progress of the tasks agreed upon in Tokyo in August, while also coordinating ways to summarize the outcomes in an 'agreement format' similar to a joint statement on topics such as ▲ regional cooperation focusing on responses to population decline and local extinction, ▲ cooperation in future industries including artificial intelligence (AI) and hydrogen, and ▲ cooperation on supply chains and economic security. The format of the summit will be 'work-oriented,' but hospitality and friendship programs will also be included, with the Office of the President aiming to demonstrate "hospitality beyond expectations."

What stands out about this summit is that it is being held in Busan, not Seoul. It has been 21 years since a Japanese prime minister visited a regional city in Korea for a bilateral summit, the last being the 'Roh Moo-hyun-Junichiro Koizumi Summit' in Jeju in 2004. The Office of the President explained that holding the summit in Busan is symbolic of both the establishment of shuttle diplomacy and the government's commitment to balanced regional development.

Taking advantage of Busan's strong manufacturing and logistics infrastructure, there is speculation that cooperation projects such as a hydrogen supply chain, energy demand management linking ports and data centers, and joint research and development (R&D) tracks between universities and research institutes may be proposed. In the area of security, the commitment to strengthening trilateral cooperation among Korea, Japan, and the United States is expected to be reaffirmed. National Security Advisor Wi Sunglak stated at a press briefing on the 29th, "We will broadly discuss population issues, regional revitalization, and expanding future cooperation in areas like AI and hydrogen, as well as review the implementation of the August agreement," adding, "In the rapidly changing geopolitical environment and trade order, this will be an opportunity for Korea and Japan, as neighboring countries and cooperation partners facing similar circumstances, to expand our horizons by thinking and contributing together."

There is also interest in whether closed-door discussions on the U.S. tariff negotiations will continue. Since Japan has already resolved much of the follow-up procedures regarding U.S. tariffs, there is speculation that some dialogue may take place concerning investment structure design and market safety mechanisms. The Korean government has repeatedly stated that the 'USD 350 billion cash investment' method currently being demanded in advance by the Donald Trump administration is "an area that the government cannot cover in cash."

Regarding this, Advisor Wi drew a clear line by saying it is not an official agenda item, but added, "Although it was not an agenda item at the previous Korea-Japan summit, it was discussed. We received useful advice from the Japanese side." He continued, "Japan is ahead of us, and we are following, so we can refer to Japan's experience and perspective," and added, "I believe we will pool our wisdom on how best to respond to geopolitical changes." He thus left open the possibility of exchanging opinions at the level of sharing experiences.

Yonhap News

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Prime Minister Ishiba will step down after the new president of the ruling Liberal Democratic Party is elected on October 4 and the new prime minister is decided in the National Diet. This summit was made possible because, although Prime Minister Ishiba is about to step down, he expressed his desire to make a return visit, and President Lee accepted this. The summit is expected to be meaningful in confirming that even after stepping down, Prime Minister Ishiba will continue to play an active role as a senior member of Japanese politics for the development and growth of Korea-Japan relations.

Advisor Wi responded to concerns from some quarters that any achievements may not be sustainable, saying, "The agenda that the two leaders wish to discuss-such as population issues and regional revitalization-are problems shared by both Korea and Japan that transcend administrations," and added, "Even if the government changes, the awareness of these issues remains the same, so there will be continuity."

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