South Korean President Lee Jae Myung and US President Donald Trump are set to hold their first summit meeting on August 25 in Washington to discuss strengthening the bilateral alliance and economic security partnership.
Lee has made it a top priority to help his export-dependent country navigate the changes in the global trading environment triggered by Trump’s tariff policies. The two leaders will discuss ways to develop the U.S.-South Korea alliance into a comprehensive strategic alliance of the future in response to the changing international security and economic environment.
Based on the tariff deal reached last month, the two leaders will push forward a partnership in the manufacturing sector, including semiconductors, batteries, shipbuilding, as well as critical minerals and technology. In return, Trump has said South Korea will announce investment plans at the upcoming summit and that Seoul has committed to making $350 billion of investments to be “selected” by him.
Experts suggest that Trump may use the summit to seek more concessions on defense costs and corporate investments, while non-tariff barriers and currency could prove thorny issues.
With information from Reuters
