President Lee discusses cooperation in meetings with U.S. treasury secretary, Chinese vice premier

President Lee Jae Myung met separately with U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng in Seoul on Wednesday, underscoring Korea’s efforts to deepen cooperation with both powers as Washington and Beijing prepare for high-level trade talks and a bilateral summit later in the week. 

In his meeting with Bessent at the Blue House in Jongno District, central Seoul, Lee stressed that the two countries should deepen economic cooperation despite growing global uncertainty.

"Even amid the recent expansion of uncertainty, both the Korean and U.S. economies are showing stability," Lee said, according to presidential spokesperson Kang Yu-jung. "The two countries must communicate closely and further strengthen our economic cooperation to keep that positive momentum going." 

Bessent echoed the sentiment, saying the two countries needed to work closely together going forward. He also offered an upbeat assessment of Korea's performance, saying that despite the difficult circumstances surrounding the war in the Middle East, Korea is showing remarkable results in economic growth and stock market performance compared to other countries. 

The two also discussed strategic investment and multilateral cooperation. Lee asked Bessent to ensure that strategic investments translate into across-the-board economic cooperation grounded in the strong trust between the two allies, benefiting both nations. Lee also pledged Korea's support for U.S. priorities as G20 chair in 2026, and noted the importance of close coordination with Washington ahead of Korea's own G20 chairmanship in 2028. Bessent responded that Korea is a key partner in the G20 and the international community.

Earlier in the day, Lee also met with Vice Premier He Lifeng, where the president expressed hope that stable U.S.-China relations would benefit the broader global economy, including Korea. "We will do our best at the government level to support today's negotiations going smoothly," Lee said.

He said it was meaningful to conclude the trade negotiations in Seoul just ahead of the U.S.-China summit set to begin in Beijing the following day, and expressed deep appreciation for Korea's support.

The two sides also reaffirmed their commitment to advancing the bilateral relationship. Lee called for continued close communication to produce concrete results across the economic, industrial, trade and cultural domains, and asked He to play an active role in that effort.

The Chinese vice premier responded that bilateral trade had continued to grow in the first half of this year, following gains in 2024 and pledged to fulfill his responsibilities to ensure that agreements reached between the two leaders are implemented smoothly.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

BY OH HYUN-SEOK [[email protected]]