Gyeongju: Prime Minister Kim Min-seok on Thursday expressed hope that the upcoming Asia-Pacific Economic Cooperation (APEC) summit will be successful, with U.S. President Donald Trump and Chinese President Xi Jinping expected to meet on the sidelines. Kim made the remarks as he inspected the venue of the APEC summit, scheduled for Oct. 31 and Nov. 1, in the southeastern city of Gyeongju.
According to Yonhap News Agency, Kim stated, "As it has been decided that the U.S. and Chinese leaders will participate, I think that in itself opens the possibility of a successful summit," while speaking to reporters. Although President Trump is expected to visit Korea from Oct. 29-30 for separate bilateral talks with President Lee Jae Myung and Xi, he is anticipated to skip the APEC summit itself. Kim added, "It is unfortunate, but from a national perspective, there will still be opportunity for meaningful discussions during his visit to South Korea."
Regarding the potential for U.S.-North Korea dialogue during the APEC summit, Kim remarked, "It remains uncertain as of now." The White House had earlier indicated that Trump remains open to engaging with North Korean leader Kim Jong-un "without any preconditions," fueling speculation about possible reengagement during his Korea visit.
In terms of trade, Prime Minister Kim highlighted the progress in South Korea-U.S. tariff negotiations, noting that although significant differences have been narrowed, final resolution before the APEC summit remains uncertain. He reflected on the negotiations under the previous administration, mentioning that they could have ended in a "deep quagmire" had they been concluded by former Prime Minister Han Duck-soo during the last presidential election period.
Recent trade talks between Seoul and Washington were held in Washington, with expectations of finalizing a trade deal at the APEC summit. These discussions are anticipated to focus on Seoul's US$350 billion investment pledge and the agreement reached in July to reduce U.S. tariffs on Korean products from 25 percent to 15 percent.