The summit will take place weeks after South Korea managed to seal a trade deal that reduced U.S. tariffs to 15% from 25% imposed by Trump.
South Korea’s President Lee Jae Myung will travel to Washington, D.C., later this month to hold his first in-person meeting with U.S. President Donald Trump.
According to a report by the Korea Times, both sides have finalized the schedule for the Korea-U.S. summit, which is set to take place on Aug. 25. Lee will travel to the U.S. on Aug. 24 and depart on Aug. 26.
“They are expected to discuss ways to advance the Korea-U.S. alliance into a future-oriented comprehensive strategic partnership in response to the changing international security and economic environment,” presidential spokesperson Kang Yu-jung reportedly said.
The summit will take place weeks after South Korea managed to seal a trade deal that reduced U.S. tariffs to 15% from 25% imposed by Trump. The Asian country also granted Washington access to $350 billion in U.S.-controlled investments and pledged to purchase $100 billion in American LNG and energy products, as well as further open its markets to U.S. goods.
Retail sentiment on Stocktwits about the iShares MSCI South Korea ETF (EWY) was in the ‘bearish’ territory at the time of writing.
Kang reportedly said that the two leaders will discuss measures to strengthen military ties, as well as cooperation for building peace and achieving denuclearization on the Korean Peninsula. They will also discuss shipbuilding, semiconductors, batteries, and other advanced technologies.
A Washington Post report had stated earlier that the Trump administration seeks enhanced operational flexibility for the U.S. Forces Korea to deter an increasingly assertive China, as well as for Seoul to increase its defense spending.
Trump had proposed the summit last month following the conclusion of tariff talks.
The iShares MSCI South Korea ETF has risen 42% this year, while the SPDR S&P 500 ETF Trust has gained 7.9%.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<