South Korean President Lee Jae Myung met Chinese President Xi Jinping on November 2 at the Asia‑Pacific Economic Cooperation (APEC) summit in Gyeongju, the southeastern city that hosted the first summit in 11 years.
During the meeting, Lee told reporters that the two leaders agreed to work together to promote peace on the Korean Peninsula. “We need China to help resume talks with North Korea,” Lee said. He added that Beijing’s active engagement with Pyongyang is a positive sign for future dialogue.
Lee also urged Xi to play a “constructive” role in South Korea’s quest for peace and co‑prosperity. “If we strengthen our strategic ties and use the current momentum, we can push for a new start with North Korea,” he said in his opening remarks.
Economic cooperation was a key topic. Lee explained that the relationship between Seoul and Beijing is moving from a “vertical” to a “horizontal” structure – a shift that means both countries will share benefits more evenly. In the same vein, Xi said China “values its ties with South Korea and will keep policies stable while deepening communication.” The two leaders praised their long‑standing partnership and called it a model of mutual success.
Seoul and Beijing sealed seven memorandums of understanding (MOUs) during the summit. A headline pick was the renewal of a 70‑trillion‑won (about $48.9 billion) currency‑swap deal that will run for another five years. Other agreements covered free‑trade talks, stronger trade, expanded services and law‑enforcement cooperation, especially against online crime and phishing.
The summit also revived diplomatic ties that had cooled. Wi Sung‑lac, South Korea’s National Security Adviser, said the meeting represented a “full restoration” of Seoul‑Beijing relations, thanks to pragmatic diplomacy focused on national interests.
Security talks wrapped back around the Korean Peninsula’s denuclearization. Both presidents shared a view that the United States remains the key player in reshaping North Korea’s future. The leaders also discussed China’s recent sanctions on U.S. subsidiaries of Korean shipbuilder Hanwha Ocean, linked to a broader U.S.–China trade standoff involving maritime and shipbuilding. Wi noted that if U.S.–China tensions ease, Hanwha Ocean could also see progress.
Other issues – from Chinese steel structures in the Yellow Sea to limitations on Korean cultural imports – were touched upon, but Wi said both sides agreed deeper talk is needed to solve them.
Overall, the Gyeongju APEC summit marked a resumption of high‑level talks between Seoul and Beijing, with both sides aiming for stability, prosperity and a peaceful Korean Peninsula.
Source: ianslive
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