Economic issues, from high-tech cooperation to punitive sanctions, were central to the state summit between Chinese President Xi Jinping and South Korean President Lee Jae Myung in Gyeongju.
The leaders oversaw the signing of seven agreements, including a won-yuan currency swap and MOUs on innovation. Xi also called for new cooperation in AI, biopharmaceuticals, and green industries.
However, President Lee also raised several points of economic friction. He brought up Chinese sanctions on five U.S.-linked units of shipbuilder Hanwha Ocean and the years-long effective ban on South Korean entertainment content, a relic of the 2017 THAAD missile dispute.
While economics was a major focus, Lee’s top priority was security. He appealed for Xi’s help in restarting talks with North Korea, a request that was promptly rejected by Pyongyang.
The visit, Xi’s first in 11 years, also sparked anti-China protests in Seoul, illustrating the complex nature of the relationship between the two major trading partners.
Xi, Lee Talk Trade, Sanctions, and AI in Gyeongju Summit
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