logo
South Korea's Lee plans to hold bilateral talks at G7 summit, his office says

South Korea's Lee plans to hold bilateral talks at G7 summit, his office says

CNA11 hours ago

SEOUL: South Korean President Lee Jae-myung plans to hold bilateral talks with the leaders of countries attending the G7 summit, with details still being coordinated, his office said on Sunday (Jun 15).
Lee will depart on Monday for the summit in Canada, National Security Adviser Wi Sung-lac told a briefing.
The presidential office said Seoul was open to holding trilateral talks with Washington and Tokyo, the Yonhap news agency reported.
Lee was also preparing for potential talks with Ukraine's President Volodymyr Zelenskyy in case he attends, Yonhap said, citing a presidential office official.
"By engaging with the leaders of the United States and Japan, we can explore ways to resolve pending economic and trade issues such as tariffs," Wi said.
Lee plans to hold meetings with leaders of key countries before and after attending the extended session of the summit, Wi added, without naming countries.
Seoul and Washington are holding working-level tariff talks, crucial for South Korea's export-oriented economy, with key sectors from chips to vehicles and shipbuilding heavily exposed to global trade.
US President Donald Trump has imposed tariffs on South Korea, a long time ally with which it has a bilateral free trade deal, and pressed it to pay more for the 28,500 US troops stationed there.
Lee, a liberal, was elected on Jun 3 after former conservative leader Yoon Suk Yeol was impeached and ousted over his short-lived declaration of martial law last year.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Japan's Ishiba heads to G7 to press Trump to drop auto tariffs
Japan's Ishiba heads to G7 to press Trump to drop auto tariffs

CNA

time11 hours ago

  • CNA

Japan's Ishiba heads to G7 to press Trump to drop auto tariffs

TOKYO: Japanese Prime Minister Shigeru Ishiba heads to Canada on Sunday for trade talks with US President Donald Trump, hoping to persuade him to drop trade tariffs that have imperiled Japan's auto companies and threaten to undermine his fragile government. The two are expected to meet on the sidelines of a summit of the Group of Seven (G7) nations in Kananaskis, Alberta, for their second in-person encounter. It follows a sixth round of high-level trade talks in Washington on Friday. Japan's top tariff negotiator, Ryosei Akazawa, said he explored the possibility of an deal in detailed meetings with US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The trick for Ishiba, who spoke with Trump by phone on Friday, will be to get the president to drop the 25 per cent tariff he imposed on Japanese cars, as well as a paused 24 per cent across-the-board levy that Trump calls a reciprocal tariff, without making concessions that could hurt the prime minister's public support at home. Returning to Tokyo with no deal would be better politically than conceding too much, analysts say. "If it goes badly, it could even be seen as a positive for Ishiba, standing up to Trump and standing up for his country when he's under assault," said Michael Cucek, a political science professor at Temple University in Tokyo. Ishiba and his ruling Liberal Democratic Party face an upper house election next month that comes after a lower house loss in November that left him reliant on the support of other parties to stay in power. Another poor electoral result could bring down his government and would force Trump to reset trade talks with a new Japanese administration. "The most important thing is that Ishiba does not cave in for a bad (auto) deal," said Joseph Kraft, a financial political analyst at Rorschach Advisory in Tokyo. "I expect there will be some kind of deal, although it could be haphazard. Trump needs some good news and I don't think he has much interest in G7 activities." Failing to reach an agreement in Canada might not have an immediate economic impact on Japan, but tariffs that stay in place will eventually drag down growth, said Asuka Tatebayashi, senior analyst at Mizuho Bank. "If you look at the data for car exports to the US for April, it was quite striking. The volume in dollars was down by nearly 5 per cent, but the number of cars has increased a lot," she said. "It means either they are only selling cheap cars or the manufacturers are absorbing the cost. I think the latter is the case and this is not very sustainable."

South Korea's Lee plans to hold bilateral talks at G7 summit, his office says
South Korea's Lee plans to hold bilateral talks at G7 summit, his office says

CNA

time11 hours ago

  • CNA

South Korea's Lee plans to hold bilateral talks at G7 summit, his office says

SEOUL: South Korean President Lee Jae-myung plans to hold bilateral talks with the leaders of countries attending the G7 summit, with details still being coordinated, his office said on Sunday (Jun 15). Lee will depart on Monday for the summit in Canada, National Security Adviser Wi Sung-lac told a briefing. The presidential office said Seoul was open to holding trilateral talks with Washington and Tokyo, the Yonhap news agency reported. Lee was also preparing for potential talks with Ukraine's President Volodymyr Zelenskyy in case he attends, Yonhap said, citing a presidential office official. "By engaging with the leaders of the United States and Japan, we can explore ways to resolve pending economic and trade issues such as tariffs," Wi said. Lee plans to hold meetings with leaders of key countries before and after attending the extended session of the summit, Wi added, without naming countries. Seoul and Washington are holding working-level tariff talks, crucial for South Korea's export-oriented economy, with key sectors from chips to vehicles and shipbuilding heavily exposed to global trade. US President Donald Trump has imposed tariffs on South Korea, a long time ally with which it has a bilateral free trade deal, and pressed it to pay more for the 28,500 US troops stationed there. Lee, a liberal, was elected on Jun 3 after former conservative leader Yoon Suk Yeol was impeached and ousted over his short-lived declaration of martial law last year.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store