Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
New president's diplomatic debut likely to begin with G7 summit
President Lee Jae-myung and his wife Kim Hye-kyung leaves their residence in Incheon, Wednesday, following Lee's victory in the presidential election the previous day. Yonhap
By Lee Hyo-jin
All eyes on first meeting with US President Donald Trump
Newly elected President Lee Jae-myung steps onto the global stage with a full diplomatic agenda, ending a six-month freeze in South Korea’s summit diplomacy.
After winning Tuesday's snap election, Lee was sworn in Wednesday morning in a brief inauguration ceremony, bringing an end to the leadership vacuum caused by former President Yoon Suk Yeol’s abrupt martial law declaration in December and his impeachment in April.
Lee's administration now faces a series of pressing diplomatic challenges: navigating tariff negotiations with the United States, responding to deepening military cooperation between North Korea and Russia and managing strained relations with China.
Analysts are also watching closely to see how the liberal president will approach relations with Japan — a partnership that improved significantly under Yoon despite lingering historical disputes.
Lee's first appearance on the global stage is widely expected to come at the Group of Seven (G7) summit in Canada, set for June 15 to 17. While South Korea has not yet received a formal invitation, Canadian Prime Minister Mark Carney has expressed interest in inviting Korea as a guest country.
Another major opportunity for multilateral diplomacy will follow just days later at the NATO summit in the Netherlands, scheduled for June 24 and 25. Since Russia's invasion of Ukraine in 2022, NATO has invited its Indo-Pacific partners — South Korea, Japan, Australia and New Zealand, collectively known as the Indo-Pacific Four (IP4) — to attend its annual meetings.
U.S. President Donald Trump speaks during a news conference in the Oval Office of the White House, May 30 (local time). AP-Yonhap
On the bilateral front, Lee is expected to hold a series of phone calls with world leaders, including U.S. President Donald Trump.
Yoon spoke with then-U.S. President Joe Biden on the day of his election victory in 2022, and former President Moon Jae-in held a call with then-president Trump on his inauguration day in 2017.
The prospects of a phone call and eventual summit between Lee and Trump are being closely watched amid ongoing diplomatic strain between Seoul and Washington, following months of political uncertainty in South Korea.
While an initial phone call between leaders is expected as a diplomatic courtesy, the conversation may touch on a range of sensitive issues, including trade negotiations, North Korea’s denuclearization and the future role of U.S. Forces Korea.
The Trump administration has signaled interest in restructuring the U.S. military presence on the peninsula to counter China's growing assertiveness — a shift that would mark a significant departure from its current focus on deterring North Korean threats.
Another top priority for the new administration will be preparing for the Asia-Pacific Economic Cooperation (APEC) summit, to be held in late October in Gyeongju, North Gyeongsang Province.
The Ministry of Foreign Affairs has said it will begin sending invitations to APEC member economies following the election, with possible attendance by both Trump and Chinese President Xi Jinping under consideration.
High-level diplomatic visits to Korea that were paused amid the political turmoil are also expected to resume.
The last official state visit by a foreign leader took place just before Yoon's martial law declaration, when Kyrgyz President Sadyr Japarov arrived in Seoul on Dec. 2, 2024. A planned visit by Swedish Prime Minister Ulf Kristersson was postponed in the wake of the martial law crisis.