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PPP's Kim pledges to hold summit with Trump in June if elected

Published: 19 May. 2025, 17:35 Updated: 19 May. 2025, 17:48

SARAH CHEA
[email protected]

Presidential candidate Kim Moon-soo of the People Power Party, left, talks about his stance on Korea-U.S. cooperation with the American Chamber of Commerce in Korea Chairman James Kim during a luncheon in central Seoul on May 19. [AMCHAM]

Presidential candidate Kim Moon-soo of the People Power Party (PPP) pledged to hold a summit with U.S. President Donald Trump in June to swiftly resolve the tariff tussle as soon as he is elected, setting himself apart from Democratic Party (DP) contender Lee Jae-myung, who emphasized a deliberate approach.

Kim also signaled a willingness to increase defense cost sharing for U.S. Forces Korea (USFK), a move Lee criticized as overly conciliatory toward Washington and neglectful of national interests.

“The United States is more than just a trade partner for Korea, but a trustworthy ally across all sectors from national security, economy and scientific and technological fields,” Kim said during a luncheon hosted by the American Chamber of Commerce in Korea (Amcham) Monday in central Seoul, inviting over 200 senior leaders from the global business community.

Reflecting on his past as a student activist critical of the United States, Kim underscored the vital role U.S. support has played in sustaining Korea’s peace and development.

“I do agree with us paying more of the defense cost sharing, but the greater concern is what if the United States cuts USFK personnel stationed on the peninsula,” Kim added. “Considering our geographical risks surrounding China, Russia and nuclear-armed North Korea, today’s South Korea would not exist without the United States; how could we have maintained peace — could we have achieved this level of prosperity?”

Presidential candidate Kim Moon-soo of the People Power Party, right, and American Chamber of Commerce in Korea Chairman James Kim take a photo after a luncheon in central Seoul on May 19. [YONHAP]

On Amcham Chairman James Kim’s request for improved conditions for U.S. companies running businesses in Korea, candidate Kim also vowed to eliminate regulatory barriers hindering foreign investment while also committing to corporate tax reductions.

“I will establish a dedicated body to regularly review regulations, enabling U.S. companies to invest more confidently and substantially in Korea, while ensuring that emerging industries are not stifled by outdated rules,” Kim said, labeling laws such as the Serious Accidents Punishment Act and the Yellow Envelope Act as “harmful legislation.”

“A new complex exclusively for foreign companies will be established, where facilities can be leased free of charge,” the PPP candidate said. “We have vast government-owned land near Seoul that can be utilized for this purpose.”

From tariff talks, defense and corporate market conditions, DP’s Lee has taken a sharply contrasting stance.

“There is no need for us to rush in and be the first to strike a deal,” Lee said in the first televised debate for the June 3 presidential election on Sunday, adding, “Japan initially adopted a proactive stance on negotiations but has since shifted course, and China, too, moved from a confrontational position to a considerable compromise.”

Lee pushed back against Kim’s prioritization of early talks with Trump, adding that “the government hasn’t even been formed yet — why the rush?”

The DP’s candidate also criticized then-Prime Minister Han Duck-soo’s interview with CNN about his intention to renegotiate the defense cost-sharing agreement, calling it a “giveaway” catering solely to Trump’s interests.

“The government's fundamental policy is to separate trade from security," he said. "Is [Han’s move] truly desirable?”

BY SARAH CHEA [[email protected]]