South Korean President Lee Jae Myung and Chinese President Xi Jinping had a “productive” discussion about Chinese sanctions on South Korean shipbuilder Hanwha Ocean, according to Seoul’s national security adviser. The summit addressed several key economic frictions between the two nations.
The sanctions, which Beijing claims are related to security risks from the company’s cooperation with U.S. investigations, are a major irritant in the relationship. Lee also raised the long-standing restrictions on South Korean entertainment content, an effective ban imposed after the 2017 deployment of the U.S. THAAD missile defense system.
National security adviser Wi Sunglac said the two sides shared the need for cultural exchanges and could keep communicating on the entertainment ban at the working level.
These economic talks were part of a broader summit where Lee sought Xi’s help in resuming dialogue with North Korea. That effort was quickly rebuffed by Pyongyang, which called Lee’s denuclearisation plan a “pipe dream.”
The leaders managed to sign seven bilateral agreements on other economic issues, including a won-yuan currency swap and cooperation on aging populations. The summit highlighted the deep, complex, and often strained trade relationship between Seoul and Beijing.