Gyeongju: President Lee Jae Myung held his first summit talks with Chinese President Xi Jinping on Saturday, expressing hope to strengthen strategic communication to work together for the resumption of talks with North Korea. Lee welcomed Xi’s first visit to South Korea in 11 years to attend the Asia-Pacific Economic Cooperation summit, expressing hope that their summit would lay a foundation for “tangible results” that the peoples of both countries can feel.
According to Yonhap News Agency, Lee noted that high-level exchanges between China and North Korea have recently become more active, calling it a positive development that creates conditions for renewed engagement with Pyongyang. He emphasized the importance of strengthening strategic communication between South Korea and China to resume dialogue with North Korea, highlighting the significance of regional security.
On economic ties, Lee stated that bilateral economic cooperation has shifted from a “vertical structure” to a “horizontal one,” stressing the need to build a “mutually beneficial” relationship. Xi expressed China’s commitment to maintaining policy consistency and stability, and he emphasized Beijing’s willingness to deepen communication with Seoul. He highlighted the importance of promoting the stable and long-term development of the bilateral strategic relationship to contribute to peace and development in the region.
Xi described South Korea and China as “close neighbors who cannot move apart and inseparable partners in cooperation,” acknowledging the co-prosperity achieved through sustained exchanges and collaboration. He stated that promoting the healthy and stable development of China-South Korea relations aligns with the interests of both peoples and the spirit of the times.
Following the summit, Lee and Xi agreed to work together in pursuit of peace, sharing a common goal of promoting stability and prosperity. During a state dinner, Lee expressed his expectation for China to play a constructive role in opening a new era of peaceful coexistence and shared growth.
On the sidelines of the talks, the governments of the two nations signed seven memorandums of understanding (MOUs) to broaden cooperation in practical areas. The central banks of the two countries renewed their currency swap deal worth 70 trillion won (US$48.9 billion) for another five years. Additionally, an MOU was signed to strengthen exchanges and service and trade, progressing negotiations to upgrade their free trade agreement. Another agreement set the stage for cooperation between the two nations’ law enforcement agencies to address voice phishing and online scam crimes.