South Korea secures a trade deal during Trump’s visit

The two sides had not been able to agree over the modalities of Seoul’s pledge of US$350 billion (S$453 billion) in investments as part of a framework trade deal struck in July to lower US-imposed reciprocal tariffs of 25 per cent to 15 per cent, News.Az reports citing foreign media.

But the deal was “pretty much finalised”, declared Mr Trump at a dinner on Oct 29 that followed his summit with South Korean President Lee Jae Myung in the city of Gyeongju, where the Asia-Pacific Economic Cooperation (Apec) forum is set to be held from Oct 31 to Nov 1.

The dinner was hosted by Mr Lee and attended by other leaders, including Singapore’s Prime Minister Lawrence Wong, who are in town for the Apec forum.

The next few days will also see major-power pow-wows, with leaders including Chinese President Xi Jinping and Japanese Prime Minister Sanae Takaichi also attending the Apec meetings.

Mr Xi will be meeting Mr Trump, who is on the last leg of his whirlwind Asia tour, which has already taken him to the Asean Summit in Kuala Lumpur and to Tokyo to meet the newly minted Japanese Premier. 

South Korea has pulled out all the stops to receive the US leader, with a gold-themed reception, from Mr Lee’s gold-hued tie to the gift of a replica of a gold crown from the ancient Korean kingdom of Silla.