Trump Voices Hope for China Trade Deal; Why Was Lee Jae-yong Absent?

APEC CEO Summit Opens, Trump Expresses Hope for U.S.-China Deal

The 2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit kicked off on October 29th at the Gyeongju Arts Center. The event drew a large number of leading domestic and international business figures, fostering in-depth discussions. Notably, former U.S. President Donald Trump drew attention with a special address in which he expressed optimism about U.S.-China trade negotiations. Trump stated, "President Xi Jinping of China is visiting tomorrow, and I expect to meet with him and finalize a U.S.-China trade agreement," signaling a strong commitment to reaching a deal. He also emphasized strengthening economic cooperation with South Korea, specifically mentioning collaboration in the shipbuilding sector. Trump's remarks suggest that improved U.S.-China relations could have a positive impact on the South Korean economy. Governor Lee Jae-myung also attended the summit, delivering an opening speech outlining South Korea's economic vision. Lee announced that South Korea would propose an artificial intelligence initiative at the summit, emphasizing the nation's leading role in the future. Trump arrived over an hour late for his scheduled address, taking the stage around 1:06 PM. Despite the delay, Trump delivered his speech with his characteristic humor and confidence. He briefly addressed his tardiness at the beginning of his remarks, asking for the audience's understanding but not providing a specific explanation. Regarding the summit with President Xi Jinping of China, scheduled for the 30th, he emphasized, "I hope we can reach an agreement." Trump's comments hint at the possibility of resolving the U.S.-China trade dispute, which could be interpreted as a positive sign for the global economy. Furthermore, Trump reaffirmed the strong alliance between the U.S. and South Korea, highlighting enhanced cooperation, particularly in the shipbuilding industry. He stated, "South Korea is a valued friend and close ally of the United States," indicating that economic cooperation between the two countries will continue to expand. Trump's speech presented a positive outlook on U.S.-China relations and U.S.-South Korea relations, receiving a warm reception from summit attendees. Chairman Chey Tae-won of SK Group and the Korea Chamber of Commerce and Industry, serving as chairman of the CEO Summit, delivered the opening address, expressing his hopes for a successful event. Chey highlighted the challenges companies face in the rapidly changing global economic environment, emphasizing the importance of innovation and cooperation for mutual growth. He specifically urged investment and collaboration in future growth engines such as artificial intelligence and eco-friendly energy, stressing the role of corporations in sustainable development. Chey's opening remarks left a deep impression on the business leaders present, contributing to a consensus on the summit's theme of "sustainable prosperity." As Chairman of the Korea Chamber of Commerce and Industry, Chey plans to continue actively working to strengthen the global competitiveness of South Korean companies and promote economic development. The APEC CEO Summit, successfully held under Chey's leadership, is viewed as having contributed to enhancing South Korea's economic standing. Meanwhile, it has been reported that Chairman Lee Jae-yong of Samsung Electronics did not attend Trump's speech. Various speculations have arisen regarding the reasons for his absence, but Samsung has not issued an official statement. Some analysts suggest that Trump's lateness disrupted Lee's other scheduled commitments. Another theory posits that the decision was made to focus on the various pressing issues currently facing Samsung Electronics. Lee's absence generated considerable discussion among summit attendees, with diverse interpretations of his actions. However, in the absence of an official statement from Samsung, curiosity surrounding the reasons for Lee's absence is likely to persist for the time being. Regardless of Lee's absence, Samsung Electronics plans to leverage the APEC CEO Summit to explore collaboration opportunities with global companies in various fields and focus on securing future growth engines. During the APEC CEO Summit, news broke that Israel had resumed airstrikes on Gaza, citing delays in the return of the bodies of hostages held by the Palestinian militant group Hamas. In response, Trump told reporters on his private jet traveling from Japan to South Korea on October 29th, "There is no reason why the ceasefire should be jeopardized at all." Trump's comments are interpreted as expressing hope that ceasefire negotiations will continue, despite the heightened tensions between Israel and Hamas. However, the situation in Gaza remains unstable, and the international community is working diplomatically to prevent further clashes between the two sides. The situation is adding uncertainty to the global economy, raising concerns about indirect effects such as rising energy prices. Although the situation in Gaza was not directly discussed at the APEC CEO Summit, attendees reportedly expressed deep concern about the impact of international instability on the business environment.