Yoon meets Apple CEO, pledges firm support

President Yoon Suk Yeol shakes hands with Apple CEO Tim Cook during their meeting at a hotel in San Francisco, Wednesday (local time). Joint Press Corps

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By Nam Hyun-woo

President Yoon Suk Yeol met Apple CEO Tim Cook in San Francisco, Thursday (local time), and pledged South Korea's support to help the U.S. tech giant expand its partnerships with suppliers here.

The meeting took place on the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit in the U.S. city. Yoon arrived in San Francisco early Thursday.

According to senior presidential secretary for economic affairs Choi Sang-mok, Yoon recognized the contributions South Korean companies have made to Apple's innovation so far, and stressed the necessity of strengthening the supply chain between Apple and its South Korean vendors.

"Apple is the world's largest info-tech company in terms of sales, and more than 200 South Korean partners are playing key roles in the company's smart products," Choi said. More than 30 percent of Apple product components are supplied by South Korean firms.

Cook said Apple could not have consolidated its current market status without assistance from South Korean suppliers and the South Korean government, according to Choi. The CEO also said that Apple's trade with South Korean companies surpassed $100 billion, and it will continue cooperation and investments in the South.

Yoon replied that South Korean firms have the world's leading technological capabilities and pledged his government's support for Apple's cooperation with South Korean partners.

Throughout the meeting, Cook expressed gratitude for supply chain cooperation with South Korean vendors and promised to expand partnerships with them, according to Choi. Yoon also said that he hopes the partnerships can contribute to South Korea's efforts to build an innovative industrial ecosystem.

The CEO noted that his father is a Korean War veteran, and that he has a special bond with the country. Yoon expressed his gratitude for the service of Cook's father.

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Despite the positive engagement, Apple is now butting heads with South Korean regulators over its monopolistic in-app purchase policies. But Yoon and Cook did not touch on those issues, according to Choi.

President Yoon Suk Yeol applauds during a welcome reception at the Asia Pacific Economic Cooperation (APEC) Summit in San Francisco, Wednesday (local time). Joint Press Corps

Before the meeting, Yoon delivered a keynote speech at the APEC CEO Summit at Moscone Center and highlighted the importance of the connectivity of the world economy.

"To recover the dynamics of the world economy and enable sustainable growth, APEC should play a pivotal role in accelerating the connectivity of the world economy," Yoon said.

The president noted the wars in Ukraine and the Gaza Strip, hegemonic practices in technological competition and supply chain disruptions are expediting economic fragmantation, and stressed that supply chain disruptions are "a threat to Asia-Pacific nations whose economies expanded through free trade."

To address those challanges, Yoon proposed strengthening the connectivity of trade, investment, and supply chains; enhancing the mutual connectivity of digital systems; and expanding exchanges between future generations. In doing so, the president stressed that APEC, whose members account for more than 60 percent of the world's gross domestic product, should play a leading role.

Yoon also noted that the world should ensure digital access without discrimination, saying "data must be seamlessly connected across borders, and digital disparities between nations must disappear." For this, he stressed that new norms and orders suitable for the digital age are needed.

Meeting with Japanese prime minister

The South Korean leader is anticipated to meet the leaders of Seoul's key regional neighbors during his stay in San Francisco.

Japan's Kyodo News Agency reported that Yoon and Japanese Prime Minister Fumio Kishida will hold a summit on Thursday (local time), although Seoul's presidential office has yet to confirm this. If it takes place, it will be their eighth summit.

Yoon and Kishida are also scheduled to attend a roundtable on technological cooperation at Stanford University on Friday. On the occasion of their meetings, the leaders are expected to recognize the recent improvements in bilateral relations and reaffirm their commitment to hold a trilateral summit involving China.

Chances are also high that Yoon will have a summit with Chinese President Xi Jinping. If so, it would be their first summit in a year, following their one-on-one meeting in Indonesia, Nov. 15, 2022.

Their potential talking points are expected to be peace on the Korean Peninsula, North Korea's nuclear and missile threats and economic cooperation. In doing so, Yoon will likely ask China to play a constructive role in curbing military cooperation between North Korea and Russia. Seoul's efforts to host the trilateral summit is also a possible subject of any talks that may take place.