Korean, Canadian leaders agree to strengthen cooperation to secure stable supply chain

Diplomacy

Published: 25 Sep. 2022, 18:06 Updated: 25 Sep. 2022, 18:11

Korean, Canadian leaders agree to strengthen cooperation to secure stable supply chain

Korean President Yoon Suk-yeol, left, and Canadian Prime Minister Justin Trudeau arrive to a news conference after their bilateral summit in Ottawa on Friday. [REUTERS/YONHAP]

Korean President Yoon Suk-yeol wrapped up a weeklong, three-country tour with a bilateral summit with Canadian Prime Minister Justin Trudeau on Friday, in which the two countries agreed to strengthen cooperation on critical minerals to help secure a stable supply chain, before returning to Seoul Saturday.

Yoon and Trudeau met in Ottawa on Friday and agreed to upgrade relations to a comprehensive strategic partnership, "a milestone for the future of bilateral relations," according to the presidential office in a statement Sunday.

The two countries mark their 60th anniversary of establishing bilateral diplomatic relations next year.

Yoon stressed the need to work together on economic security, noting Korea is a key producer of semiconductors and batteries and Canada is a top producer of minerals.

In their joint statement released Friday, the two leaders agreed on prioritizing cooperation in five shared priorities in the areas of: shared values; security; prosperity; sustainability; and health and cultural partnership.

The two sides committed to defending the rules-based international system, democracy, freedom, human rights and gender equality, as well as strengthening security and defense partnerships, including "peacekeeping and maritime security."

They agreed to promote trade and investment and plan to launch a high-level dialogue on economic security involving the countries' Foreign Affairs and Industry ministries.

They also agreed to address climate change, support energy security and develop sustainable energy sources and announced plans to launch a new annual Korea-Canada Climate Change Dialogue.

The two sides also reiterated their common objective of the "complete denuclearization" of North Korea. Yoon explained to Trudeau his "audacious initiative" proposing economic incentives for North Korea in exchange for steps toward denuclearization. Trudeau in turn expressed "strong support" for Yoon's efforts to "achieve a denuclearized, peaceful and prosperous Korean Peninsula."

The two leaders held a joint press conference on Parliament Hill after their summit.

"We plan to build a cooperation regime in the area of minerals and natural resources between the governments and businesses of the two countries in order to secure stable supply chains after the pandemic," said Yoon.

Yoon also stressed that Korea's digital and data technology and Canada's artificial intelligence (AI) technology can work together "in synergy."

Trudeau said that totalitarian regimes like North Korea and Russia "threaten the peace, stability and prosperity that has come from so many decades of a rules-based order that was respected" and that "Canada will continue to stand with our Republic of Korea friends" and communicate closely through high-level diplomatic and trade channels to respond to the changing international order.

Korean President Yoon Suk-yeol, left, and Canadian Prime Minister Justin Trudeau shake hands at their joint press conference after their bilateral summit in Ottawa on Friday. [YONHAP]

This marks Yoon's first bilateral visit to a country since his inauguration in May.

Yoon extended an invitation to Trudeau to visit Korea, and the Canadian leader accepted the offer.

Korea and Canada also agreed to designate 2024 and 2025 as years of cultural exchanges.

The Korean Embassy in Canada was first established in 1965 and the Canadian Embassy in Seoul in 1973. The two countries established a strategic partnership in 2014, their bilateral free trade agreement (FTA) entered into force in 2015, and the Korea-Canada Science, Technology and Innovation (STI) Cooperation Agreement entered into force in May 2017.

In Ottawa, Yoon laid a wreath at the National War Memorial to pay respects to Canadian veterans of the 1950-53 Korean War and met with Canadian Governor General Mary Simon.

Yoon and first lady Kim Keon-hee embarked on their seven-day tour on Sept. 18, which also took them to Britain and the United States.

The trip was marked by diplomatic achievements and firsts, which were at times overshadowed by scheduling conflicts and other controversies.

In London, Yoon joined global leaders to pay condolences to the queen through attending a reception hosted by King Charles III on Sunday and attended the state funeral with first lady Kim on Monday.

Yoon wasn't able to pay condolences to Queen Elizabeth II at Westminster Hall on Sunday due traffic congestion but later signed the condolence book before he left London on Monday.

On Tuesday in New York, Yoon made his first address to the UN General Assembly, calling on international solidarity to protect freedom and peace and to overcome global issues including the climate, energy and health crises.

On the sidelines of the General Assembly, Yoon held his first summit with Japanese Prime Minister Fumio Kishida, where the two sides agreed on the need to improve relations by resolving pending issues, such as the compensation of wartime forced labor victims. The two sides agreed to accelerate consultations between diplomatic authorities and continue to communicate between the leaders, said the presidential office.

This marked the first Korea-Japan summit in two years and nine months, though it lasted just 30 minutes and was "informal." Japanese officials referred to the meeting as more casual "talks," rather than a "summit."

Nonetheless, Yoon's presidential office stressed that it was a meaningful "first step" toward overcoming their frayed bilateral relations due to historical disputes.

A second summit with U.S. President Joe Biden in New York didn't come about as initially announced by the presidential office.

Instead, Yoon held a 48-second conversation on the sidelines of a fundraising event for fighting infectious diseases hosted by Biden Wednesday.

During their short encounter, Yoon asked Biden to resolve Korea's concerns over the United States' Inflation Reduction Act (IRA), which doesn't allow tax credits for electric vehicles assembled outside North America. Biden in turn replied that he is well aware of Seoul's concerns and said that the two sides will continue to have discussions, according to the presidential office.

On Thursday, Yoon visited Toronto, Canada's financial hub, and met with AI experts at the University of Toronto, stressing there is room for cooperation in artificial intelligence and digital technology between Korea and Canada. He later met with Korean residents in the city, which is home to around 120,000 overseas compatriots.

Yoon and first lady Kim wrapped their second overseas trip and arrived at the Seoul Air Base in Seongnam, Gyeonggi, late Saturday.

"All three countries visited in this overseas trip had participated in the Korean War, and the visits further strengthened the foundation for solidarity and cooperation with our key allies," said the presidential office in a statement Sunday.

President Yoon Suk-yeol and first lady Kim Keon-hee arrive at the Seoul Air Base in Seongnam, Gyeonggi, late Saturday, concluding their weeklong, three-country tour of Britain, the United States and Canada. [YONHAP]

BY SARAH KIM [kim.sarah@joongang.co.kr]