Trump pushes to reopen talks with Kim Jong Un, hopes to meet by year-end

Geopolitics Impact 4
โดย Money & Banking·US·Read original
Summary · why it matters

US President Donald Trump is pushing for a new round of talks with North Korean supreme leader Kim Jong Un, hoping to arrange a leaders' meeting as early as this autumn, while US relations with South Korea face growing friction over trade, investment, and security. On Sunday, Trump ordered the US Defense Department to scale back annual joint military exercises with South Korea, saying the drills were inappropriate for Kim, whom Trump called a good friend, and criticized South Korea for not supporting the US enough on Iran. A day later, Trump revealed that Kim had accepted his outreach for discussions, calling the development very positive. South Korean President Lee Jae-myung expressed displeasure over delays in negotiations with the US on Seoul's desire to acquire its first nuclear-powered submarine, urging faster progress and saying that the more South Korea can strengthen itself, the greater the value and necessity of the South Korea-US alliance will become. Tensions between the two countries also come amid US criticism that South Korea has been too slow to follow through on a 350 billion dollar investment commitment in the United States, and reports that Washington wants major South Korean semiconductor companies to be part of that investment package, which could mean adding Samsung Electronics or SK Hynix plants on US soil. Such an approach could conflict with the Lee government's plans to build additional semiconductor and AI industrial hubs at home. Mason Richey, a professor at Hankuk University of Foreign Studies, warned that if Trump proceeds with talks with Kim without sufficiently involving the Lee government, South Korea could have limited influence over a diplomatic process that directly affects the country's security and prosperity. Meanwhile, South Korea announced that Chinese Foreign Minister Wang Yi will visit Seoul this week for the first time in nearly five years to discuss North Korea and other international issues. Trump met and negotiated with Kim three times during his first presidential term, but the talks failed to persuade the North Korean leader to abandon his nuclear weapons program. Since then, Kim has strengthened ties with Russian President Vladimir Putin and has said he will return to talks with the United States only when Washington formally recognizes North Korea as a permanent nuclear power. Bloomberg Economics estimates that the North Korean government could earn up to 22 billion dollars from abroad between 2022 and 2025 despite facing United Nations sanctions. South Korea's opposition has attacked the Lee government as facing a diplomatic disaster, with People Power Party leader Jang Dong-hyuk warning that if the situation continues, the North Korean government could grow stronger while the US-South Korea alliance weakens, and he did not rule out the possibility that Trump could push to withdraw US troops from South Korea. Concerns have risen after the scaling back of joint drills coincided with the USS George Washington, the only US aircraft carrier stationed in the Asia-Pacific region, being sent to the Middle East, reflecting pressure on US military forces from operations related to Iran. Another issue under scrutiny is that Trump's apparent desire to return to talks with Kim may not be driven solely by security goals, but could serve as a bargaining tool to pressure South Korea on trade and investment. Previously, Trump gave South Korea the green light to pursue its first nuclear-powered submarine after Seoul agreed to a 350 billion dollar investment package in the United States, part of a deal that capped tariffs on South Korean imports at 15 percent. However, the two sides have made little clear progress on either the investment or the nuclear submarine, while the US has accused South Korea of discriminating against American companies, adding to tensions between the allies. Despite multiple disputes, analysts say the US-South Korea relationship is unlikely to reach a breaking point because the alliance rests on a strong security foundation. Still, Trump's outreach to Kim combined with increased pressure on Seoul leaves South Korea facing a more complex set of challenges: protecting its economic interests, maintaining security on the Korean Peninsula, and preserving confidence in the United States as a long-term ally.

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Semiconductors▲ · 1 stocks
SK Hynix Inc
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Mentioned as potential US investment target, but no concrete decision.

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