Xi Jinping's First Visit to South Korea Since 2014: Strengthening Diplomatic Ties Amid Regional Economic Cooperation

South Korean President Lee Jae Myung welcomed Chinese President Xi Jinping on Saturday, expressing that he had "long anticipated this personal meeting" between them.

President Xi's visit to South Korea marked his first in over a decade, as the Chinese leader took a prominent role at the APEC summit while US President Donald Trump departed early after their bilateral meeting.

The discussions took place on the final day of Xi's South Korean trip, occurring just one day after his successful meeting with Canada's Prime Minister helped repair strained diplomatic relations.

After securing a pause in the trade war with Xi on Thursday, Trump promptly left South Korea, allowing the Chinese leader to become the central figure at the Asia-Pacific Economic Cooperation gathering.

During the summit, Xi positioned Beijing as a stable global power contrasting with what he portrayed as American-created international disorder.

Lee hosted Xi with a ceremonial welcome featuring soldiers in traditional Korean attire, marking the Chinese leader's first visit since 2014 following years of diplomatic tensions over various issues including trade and cultural disagreements.

In his remarks to Xi, Lee emphasized the need for transformation in their economic relationship, stating, "We must shift from a vertical structure of cooperation to one that is more horizontal and mutually beneficial, building a partnership that creates shared prosperity."

Xi characterized the relationship between China and South Korea as one between "important neighbors that cannot be moved and partners that cannot be separated."

The Chinese leader also stressed the importance of mutual respect for "societal differences and development paths" and resolving disagreements through "friendly consultation," according to Chinese state media CCTV.

Lee identified China as a potential partner in Seoul's efforts to improve relations with North Korea, with which South Korea technically remains at war.

Highlighting regional stability concerns, Lee referenced "recent high-level exchanges between China and North Korea," apparently alluding to North Korean leader Kim Jong Un's attendance at a major military parade in Beijing.

Lee expressed hope that these interactions "are creating conditions for renewed engagement with Pyongyang" and called for South Korea and China to "strengthen strategic communication and work together to resume dialogue with the North."

Prior to this meeting, North Korea had dismissed Seoul's denuclearization aspirations as an unattainable "pipedream."

South Korea's national security advisor Wi Sung-lac reported that Xi reaffirmed China's commitment to "continue efforts to help resolve issues and promote peace and stability on the Korean peninsula."

During Xi's visit, Seoul announced the renewal of the 70 trillion won ($49 billion) currency swap agreement between South Korea and China for another five years, expressing hope that the arrangement would "help stabilize the financial and foreign exchange markets of both countries."

The two nations also signed several memorandums of understanding, including one addressing joint responses to voice phishing and online scams.

Earlier, Lee transferred the APEC hosting responsibilities to Xi, who will oversee next year's summit in Shenzhen, China.

With President Trump's early departure, Xi utilized the APEC forum to engage with countries with which Beijing previously had challenging relationships.

On Friday, Xi met with Canadian Prime Minister Mark Carney, marking the first formal talks between leaders of the two nations since 2017.

Xi expressed his determination to work with Canada to get relations back on the "right track" and extended an invitation for Carney to visit China.

Carney characterized the meeting as a "turning point" in Ottawa-Beijing relations, which had been among the most strained between China and Western nations.

Both countries share the experience of being targets of Trump's tariffs, potentially creating common ground despite Thursday's agreement between Xi and Trump to reduce tensions.

Carney revealed on Saturday that he had apologized to Trump regarding an anti-tariff advertisement featuring former President Ronald Reagan that had angered Trump, resulting in canceled trade talks and additional 10% tariffs on Canadian goods.

The Canadian Prime Minister indicated that trade discussions would resume when the United States was "ready" and confirmed he had accepted Xi's invitation to visit China "in the new year."

Xi also met with Japan's new Prime Minister Sanae Takaichi on Friday, who despite her previous reputation as a China critic, expressed desire for a "strategic and mutually beneficial relationship."