Trump meets South Korean president in Gyeongju seeking investments
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US President Donald Trump met with South Korean President Lee Jae Myung on Wednesday in Gyeongju, the last stop of his Asian tour aimed at securing new investment deals.
Speaking ahead of the meeting at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Trump said, “The Republic of Korea is a cherished friend and close ally of America. And as we can see in this beautiful city, it is truly one of the most remarkable nations anywhere in the world.” he said, adding that the South Korean president “is a wonderful person.”
During their bilateral meeting, Lee asked Trump to consider allowing South Korea access to fuel for conventionally armed, nuclear-powered submarines; this was a long-standing restriction under the US nuclear non-proliferation treaty.
Trump’s previous stops during his trip included visits to Malaysia and Japan.
After his visit to Japan pledged about $490 billion in investment, Trump said the trade deal with South Korea was tougher as he sought an additional $350 billion in U.S. investments. Trump predicted that total new investment could exceed $22 trillion by the end of his first year back in the White House.
WHILE TRUMP’S ASIA TRIP CONTINUED, TRUMP’S FOCUS TURNED TO JAPAN AND SOUTH KOREA
US President Donald Trump and South Korean President Lee Jae Myung attended the high honor ceremony held at the Gyeongju National Museum in Gyoeongju, South Korea. (AP)
“I think that by the end of the first year of my second term, there will probably be 20 or 21, maybe even 22 trillion dollars of investment coming to our country,” the President said. “And we had an extremely successful first term. We had the strongest economy in history for our country, the strongest economy we’ve ever had. But this, I think, destroyed it. We have great policy. A lot of good things are happening.”
“We are signing trade agreements one after another around the world to balance our relationships on a basis of reciprocity,” Trump added. “I have signed groundbreaking agreements with Malaysia, Cambodia and Japan, and our agreement with the Republic of Korea will be concluded very soon. These agreements will be incredible victories for all of us, because everyone will be better off when we have stable partnerships that are not affected by chronic problems and imbalances.”
Speaking to company executives at the event, Trump explained that an “economic revolution” was taking place in the United States. The president urged executives not to listen to “little minds without vision” who promise to “build, trade, develop and prosper together.”
TRUMP ANNOUNCED THAT HE WILL MEET WITH XI JINPING AT THE SOUTH KOREA APEC SUMMIT PLANNED FOR NEXT MONTH
US President Donald Trump shakes hands with South Korean President Lee Jae Myung while attending the high honor ceremony held at the Gyeongju National Museum in Gyoeongju, South Korea. (AP)
Trump then received a replica of South Korea’s royal crown from the ancient Kingdom of Silla, symbolizing South Korea’s recognition of the country’s highest honor, the Grand Order of Mugunghwa, and Seoul’s previous diplomatic efforts.
Trump’s visit coincided with new tensions on the Korean Peninsula after North Korea said it had fired sea-to-surface cruise missiles off its west coast.
“He’s been launching missiles for decades, right?” Trump talked about North Korean leader Kim Jong Un.
Trump reiterated his desire to meet with the leader of the North and said, “We understood each other really well.”
U.S. President Donald Trump waves after speaking at the Asia-Pacific Economic Cooperation CEO summit in Gyeongju, South Korea. (AP)
In a separate speech, the South Korean leader warned against increasing protectionism and called for global cooperation on trade; It was a message that contradicted Trump’s “America First” speech.
Trump also previewed his upcoming meeting with Chinese President Xi Jinping.
“You know Chinese President Xi is coming here tomorrow and hopefully we’ll make a deal,” Trump said. “I think we’ll make a deal. I think it’ll be a good deal for both of them. And it’s a really great outcome.”
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“This is better than fighting and having all kinds of problems. And, you know, there’s no reason for that,” he added.
The Associated Press contributed to this report.
