APEC Summit, Tariff Negotiations, and Parliamentary Inspection: President Lee Faces Diplomatic, Trade, and Political Tests

After the Chuseok holiday, President Lee Jae-myung faces a series of pivotal events that could shape the direction of his administration. The APEC Economic Leaders' Meeting (APEC Summit) in Gyeongju, the United States–Korea Tariff Negotiations, and the upcoming Parliamentary Inspection of the Administration are all considered major issues with the potential to significantly impact the political landscape. President Lee’s diplomatic, trade, and political capabilities are expected to be put to the test.
According to the Office of the President of South Korea on the 9th, President Lee has minimized his official schedule during the Chuseok holiday, instead focusing on rest and contemplating future political strategies at the presidential residence.
President Lee is expected to accelerate preparations for the APEC Economic Leaders' Meeting (APEC Summit) scheduled for the end of this month in Gyeongju. The APEC Summit will be attended by key world leaders, including United States President Donald John Trump and Chinese President Xi Jinping.
Notably, in addition to the South Korea–United States and South Korea–China summits, the U.S.-China summit—set to take place in Korea for the first time in 13 years on the sidelines of the APEC Summit—has drawn global attention. As this is the first multilateral diplomatic event hosted by Korea since President Lee took office, all available resources are expected to be mobilized to ensure the success of the APEC Summit in Gyeongju.
The South Korea–United States summit, which will be held during the APEC Summit in Gyeongju, is also anticipated to be a focal point, particularly in relation to the United States–Korea Tariff Negotiations. Recently, the U.S. has increased pressure on Korea, demanding direct investments worth $350 billion. In response, Korea has proposed a revised plan centered on a currency swap agreement, but the U.S. has yet to provide an official response.
To address these challenges, the Office of the President of South Korea held a trade countermeasure meeting attended by Chief of Staff Kang Hoon-sik, National Security Advisor Wi Sung-lac, and Policy Chief Kim Yong-beom. A key official from the Office of the President of South Korea stated, "On the 4th in New York City, Minister of Trade, Industry and Energy Kim Jung-kwan met with United States Secretary of Commerce Howard William Lutnick. Both sides discussed major trade issues, including a U.S.-focused financial package. The Office of the President of South Korea and relevant ministries are continuing to consult on the outcomes and future countermeasures."
Attention is also focused on the ASEAN Summit, which will be held in Kuala Lumpur from the 26th to the 28th, just before the APEC Summit in Gyeongju. Initially, President Lee considered skipping this year’s ASEAN Summit to focus on preparations for the APEC Summit. However, given the rarity of a Korean president missing the ASEAN Summit, he is now expected to attend, even if only for a short visit.
On the domestic front, the first Parliamentary Inspection of the Administration since the launch of the Lee Jae-myung government, beginning on the 13th, will be a key issue. Recent topics such as the fire at the National Information Resources Service, the possible attendance of Hyun-Ji Kim, First Secretary to the President, and the on-site inspection of the Supreme Court of Korea are expected to put the Office of the President of South Korea’s operations, personnel, and policy direction under scrutiny.
Seo Young-jun