South Korean President Lee Jae Myung and Chinese President Xi Jinping held their first summit in Gyeongju during Xi's visit to South Korea after 11 years. The two sides emphasized cooperation for denuclearization and peace on the Korean Peninsula, signing seven memorandums of understanding (MOUs) to expand practical ties. After the talks, they exchanged gifts with lighthearted banter.
On November 1, 2025, the first summit between South Korean President Lee Jae Myung and Chinese President Xi Jinping took place in Gyeongju during the Asia-Pacific Economic Cooperation (APEC) summit. Lee positively assessed recent high-level exchanges between China and North Korea, stating, "I hope that the Republic of Korea and China will strengthen their strategic communication, make use of these conditions and work toward resuming dialogue with North Korea." Xi responded, "China values its relations with South Korea and will maintain policy consistency and stability, expressing Beijing's willingness to deepen communication with Seoul."
The talks focused on shared efforts for denuclearization and peace on the Korean Peninsula. National Security Adviser Wi Sung-lac said, "The two leaders shared the view that the U.S. is the most important country to resume talks with North Korea," and Lee requested China's constructive role. On economic ties, the central banks renewed a 70 trillion won ($48.9 billion) currency swap for five years. They also signed seven MOUs, including one on trade and services to advance free trade agreement upgrades, and another for law enforcement cooperation against voice phishing and online scams.
Sensitive issues discussed included China's sanctions on U.S. subsidiaries of Hanwha Ocean, steel structures in the Yellow Sea's overlapping areas, and restrictions on Korean cultural imports. Wi noted, "There were productive discussions regarding Hanwha Ocean... I sensed that if tensions between Washington and Beijing ease, Hanwha Ocean could also see productive progress." Both sides agreed to resolve issues through continued communication.
On November 2, during the gift exchange, Xi presented two Xiaomi smartphones—highlighting their Korean-made displays—and the "Four Treasures of the Study." When Lee quipped, "Is the line secure?" Xi replied through an interpreter, "You can check if there is a backdoor." Lee gifted a Go board carved from Torreya nucifera wood and a najeonchilgi lacquerware tray. Examining the board, Xi said, "It's exquisite. Very nice. Thank you." Both leaders are known Go enthusiasts. For Xi's wife, Peng Liyuan, Lee provided a silver-handled teapot with cups and nourishing creams; Xi's query if the cosmetics were for women drew laughter from Lee. First Lady Kim Hea Kyung received a traditional Chinese tea set.
Wi described the summit as the "full restoration" of Seoul-Beijing ties through the Lee administration's pragmatic diplomacy.
