President Lee Jae Myung’s summit with Chinese President Xi Jinping delivered economic benefits but failed to bring any political calm. While South Korea secured new economic deals, the visit was dominated by public dissent, a stinging rejection from North Korea, and the ever-present friction between the U.S. and China.
The “dollars” came in the form of seven new economic agreements, including a currency swap. This was the preferred narrative for Beijing, with Chinese state media emphasizing the productive, business-like nature of the relationship and President Xi’s call for “mutual respect.”
The “dissent” was visible on the streets of Seoul. Hundreds of protesters gathered to voice their opposition to Chinese influence, creating a tense atmosphere for the state visit. This public anger highlighted the domestic tightrope Lee must walk, balancing economic pragmatism against nationalistic sentiment.
The lack of “calm” was most evident in the North Korean response. Lee’s flagship diplomatic effort at the summit was to enlist Xi’s help in re-engaging Pyongyang. This hope was immediately crushed when North Korea publicly dismissed the overture as a “pipe dream,” a major diplomatic embarrassment.
The summit also highlighted the ongoing U.S.-China rivalry, coming just after a visit from U.S. President Trump. Lee was forced to raise sensitive issues like the 2017 THAAD missile system and Chinese sanctions on a U.S.-linked firm. These discussions underscored the fact that while Lee may have secured some economic wins, his strategic headaches have only grown.