Lee's Pragmatic Diplomacy Shines at Gyeongju... Relay of Bilateral Talks Yields Security and Economic Cooperation Achievements [Gyeongju APEC]

Intensive Summit Diplomacy with Canada, Australia, Vietnam, and Others
Strengthening Cooperation on Critical Minerals and Energy with Australia and Chile
'Sales Diplomacy' in Action... Encouraging Korean Companies to Expand Abroad

President Lee Jae-myung held a series of bilateral meetings with countries ranging from Canada to Indonesia on the occasion of the 2025 Asia-Pacific Economic Cooperation (APEC) Summit, strengthening cooperation in areas such as the economy and security. Notable achievements include the signing of a military and defense information protection agreement with Canada, and the decision with New Zealand to elevate bilateral relations to a "comprehensive strategic partnership." Despite a demanding schedule, President Lee expanded diplomatic influence through engagement with numerous countries and laid the groundwork for supporting various industries.

President Lee Jae-myung is giving a toast at the state banquet held for Chinese President Xi Jinping on the 1st at Sono Calm in Gyeongju, Gyeongbuk. Photo by Yonhap News

'Cordial' Relay of Bilateral Talks... Lee Sets a Positive Tone

Before and after the APEC summit, President Lee held meetings not only with the United States, China, and Japan, but also with Canada, Australia, Vietnam, New Zealand, the Philippines, Chile, Thailand, and Indonesia. Most of the bilateral meetings were conducted in a friendly atmosphere, thanks to President Lee's characteristic conversational skills. According to the presidential office, during his meeting with New Zealand Prime Minister Christopher Luxon, President Lee said, "I would really like to try fishing in New Zealand," lightening the mood. In his meeting with newly appointed Japanese Prime Minister Sanae Takaichi, he mentioned Takaichi's hobbies-drumming, scuba diving, and motorcycling-and joked, "Prime Minister Takaichi has accomplished all of her dreams."

President Lee Jae-myung is greeting Mark Carney, Prime Minister of Canada, who attended the 2025 Asia-Pacific Economic Cooperation (APEC) Summit held at Gyeongju HICO on the 31st. Photo by Yonhap News

The outcomes were significant. In his summit with Canadian Prime Minister Mark Carney, President Lee adopted a "Korea-Canada Joint Statement" outlining cooperation in security and defense. Through the statement, the two leaders announced the establishment of a "security and defense cooperation partnership" between Korea and Canada. This is the first time Canada has established such a partnership with a country in the Indo-Pacific region.

Given that Canada is preparing to place orders for submarine construction and maintenance projects worth 60 trillion won (approximately 45 billion USD), the signing of this partnership is particularly meaningful. There are high expectations for the consortium of HD Hyundai Heavy Industries and Hanwha Ocean, which is participating in the bidding process. Areas of cooperation under the partnership include military collaboration and interoperability, defense industry and innovation, cyber, space, and hybrid threats, and capacity building for partner countries. The two countries will hold biennial meetings between their foreign and defense ministers to review partnership cooperation.

In particular, President Lee and Prime Minister Carney concluded a military and defense secret information protection agreement. Once this agreement takes effect, it will lay the foundation for expanding cooperation not only in defense procurement but also in the defense industry. The two leaders reaffirmed their commitment to deepening cooperation as strategic partners in defense and security through this joint statement.

President Lee Jae-myung and First Lady Kim Hye-kyung are welcoming Australian Prime Minister Anthony Albanese at the reception for the 2025 Asia-Pacific Economic Cooperation (APEC) Summit Gala Dinner held at Lahan Select Hotel in Gyeongju, Gyeongbuk on the 31st. Photo by Yonhap News

Australia and Chile Discuss 'Critical Minerals' Cooperation... Strengthening Supply Chains

In the summit with Australian Prime Minister Anthony Albanese, the two leaders held extensive discussions on industrial sectors such as green steel and critical minerals. Prime Minister Albanese mentioned his visit to the POSCO steelworks in Pohang, Gyeongbuk, noting, "For Australia, POSCO is the world's largest customer as a single company. Our two countries are strengthening cooperation in research and development (R&D) in the green steel sector, which offers limitless opportunities." He added, "Korean companies are making significant investments in lithium, critical minerals, and rare earth elements in Australia. These critical minerals will serve as the driving force of the global economy in the coming century." Prime Minister Albanese also emphasized, "Our two countries maintain close ties in defense and security, and we will stand together against invasions and threats from North Korea."

President Lee also agreed with Chilean President Gabriel Boric Font to further strengthen cooperation and exchanges in critical minerals, energy, and cultural industries. The summit with Chile is expected to initiate discussions on improving the free trade agreement (FTA) between the two countries. President Boric stated, "Chile is strongly committed to improving the FTA with Korea. Although there have been negotiations, progress has stalled." In response, President Lee proposed seeking mutually beneficial solutions in FTA improvement talks, noting that Chile was Korea's first FTA partner and is Korea's third-largest trading partner in Latin America, according to the presidential office.

With the Philippines, the two countries agreed to strengthen regional cooperation to eradicate transnational crimes such as scam complexes, following the recent detention of Koreans in Cambodia. President Lee thanked Philippine President Ferdinand Romualdez Marcos Jr. for the recent establishment of the "Korea Help Desk" at a Philippine police station to handle incidents involving Korean nationals, and agreed to work closely together to ensure smooth operations for Korean businesses in the Philippines. They also discussed strengthening strategic cooperation in defense, shipbuilding, and infrastructure.

President Lee Jae-myung and President Prabowo Subianto of Indonesia shake hands on the 1st at the Gyeongju Hwabaek Convention Center in Gyeongbuk before the APEC summit meeting. Photo by Yonhap News

'Sales Diplomacy' by Lee... Encouraging Korean Companies to Expand Abroad

With Thailand, the two leaders agreed to accelerate negotiations for the signing of a Comprehensive Economic Partnership Agreement (CEPA) currently underway between the two countries. President Lee and Thai Prime Minister Anutin Charnvirakul agreed to promote mutually beneficial and future-oriented cooperation in areas such as defense and energy transition to advance the strategic partnership between the two countries. President Lee engaged in "sales diplomacy," requesting that competitive Korean companies be given opportunities to participate in Thailand's defense sector.

In the summit with New Zealand Prime Minister Christopher Luxon, the two countries elevated their relationship to a "comprehensive strategic partnership." The document announcing the upgrade includes: ▲ holding annual foreign ministers' meetings ▲ launching strategic dialogues at the assistant minister level to promote high-level exchanges ▲ regularizing economic security dialogues ▲ New Zealand's intention to join the Minerals Security Partnership (MSP) ▲ amending the double taxation avoidance agreement ▲ launching bilateral Antarctic consultations. The presidential office explained, "Based on the Korea-New Zealand FTA, which marks its 10th anniversary this year, bilateral trade and investment have grown significantly, and both leaders agreed to continue expanding cooperation in economic security and other areas."

In the summit with Indonesian President Prabowo Subianto, the two countries agreed to hold follow-up discussions on the jointly developed Korean fighter jet project, the KF-21 "Boramae." President Prabowo said, "I understand that discussions are underway regarding pricing and funding plans, as well as economic feasibility. Various consultations are taking place not only among officials but also among technical experts. We will continue follow-up discussions." President Prabowo also noted that he has met with more than 20 Korean business leaders since taking office and is "very open to Korean companies participating in the Indonesian economy."

Analysts note that President Lee actively leveraged his role as chair of the APEC summit to highlight Korea's international presence and secure practical benefits. In his meeting with Vietnamese President Luong Cuong, whose country boasts an average annual growth rate of 7%, President Lee said, "Korea wants to be part of Vietnam's growth and development," expressing hope that "a new level of cooperation will be created in all areas, including culture and private exchanges, as well as the economy, security, and defense."