President Lee Jae-myung departs on the 21st for a seven-day trip to the United States and Mexico, running through the 27th. With talks on a South Korean investment package for the U.S. still stalled in the final stretch, attention is focused on whether a meeting with U.S. President Donald Trump can break the deadlock.
National Security Adviser Wi Sung-lac said at a pre-trip briefing at the presidential office on the 21st that Lee's attendance at the U.N. General Assembly would create openings for "separate contacts in various formats with leaders of major countries including the United States and Australia." The reference to diplomacy unconstrained by formal arrangements suggests the two sides are coordinating a range of possible encounters — a reception, an impromptu meeting at a venue or a standing conversation — rather than a formal bilateral summit.
Trump is scheduled to hold a summit with Japanese Prime Minister Sanae Takaichi in New York on the 22nd local time and with Chinese President Xi Jinping in Washington on the 24th. Because Lee delivers his keynote address to the General Assembly on the 22nd, a meeting between the South Korean and U.S. leaders is seen as most likely around his New York schedule that day.
The biggest sticking point between Seoul and Washington is the "commercial rationality" standard to be applied to the $200 billion investment program, including its first project. The South Korean government wants the agreement to state clearly that annual investment will be capped at $20 billion and that it will not fund projects that do not ensure recovery of capital and profitability. Differences also remain over detailed safeguards, including an umbrella special purpose vehicle (I-SPV) to recoup investment, long-term power purchase agreements (PPAs) and the appointment of a South Korean project manager.
At a news conference on the 18th, Lee said, "There are parts that are not easy to agree to, so we are discussing them again," signaling he will not retreat on commercial rationality. With a scheduled briefing to the National Assembly on the investment package already delayed once because of the difficult negotiations, the question is whether direct contact between the leaders can open a path forward. Beyond the investment issue, the possibility cannot be ruled out that talks will also touch on Washington's request for a substantive South Korean contribution in the Strait of Hormuz.
In his keynote address on the 22nd, Lee plans to lay out his views on U.N. reform and South Korea's contributions, and to explain his blueprint for peaceful coexistence on the Korean Peninsula. On the 23rd he will attend the Invest Korea Summit 2026, where he will personally brief Wall Street asset managers, investment banks and private equity firms on his government's artificial intelligence policy and capital market reforms.
Business leaders are joining the economic diplomacy effort. SK Group Chairman Chey Tae-won, Samsung Biologics President John Rim and Hyundai Motor President Sung Kim are among those expected to attend investment events.
In Mexico, where Lee will make the first South Korean state visit in 16 years, the focus will be on strengthening cooperation on energy and mineral supply chains. He is scheduled to hold a summit with Mexican President Claudia Sheinbaum on the 24th, then attend a business forum on the 25th before visiting the K-Expo. Chey, LG Group Chairman Koo Kwang-mo and LS Chairman Koo Ja-eun are reported to be accompanying him to Mexico.
Speaking at a meeting with senior aides shortly before departure, Lee said, "Nothing about this is easy," adding, "I believe we can find wise solutions as long as we deliberate calmly and make judgments and decisions that put the lives and safety of the people and the national interest of the Republic of Korea first."
