President Donald Trump was presented with a golden crown by his South Korean counterpart, Lee Jae Myung, on Wednesday, in a ceremony that coincided with the announcement of a long‑awaited $350bn trade agreement between Washington and Seoul.
The crown, a replica of one from the ancient Silla kingdom whose capital was Gyeongju, was offered as a symbol of friendship during Trump’s visit to South Korea for the Asia‑Pacific Economic Cooperation (Apec) meetings. The American leader was also awarded the Grand Order of Mugunghwa, the country’s highest decoration, named after the national flower.
The gesture came just a fortnight after millions of Americans had joined “No Kings” protests against Trump. Yet in Seoul, the president was greeted with ceremony and gifts, as South Korea sought to break a deadlock in trade negotiations.
Lee’s aide, Kim Yong‑beom, confirmed that the two sides had reached agreement on the details of tariff negotiations. “South Korea’s financial investment package for the United States, worth $350bn, consists of $200bn in cash investment and $150bn in shipbuilding cooperation,” he told reporters.
Donald Trump, speaking at a dinner with South Korean officials, declared: “We did reach a deal. We made our deal, pretty much finalised it.”
The agreement is expected to ease tensions between the two allies, though South Korea remains subject to a 25 per cent tariff on vehicles, a rate higher than that imposed on Japanese and European competitors. Seoul has argued that such measures place Hyundai and Kia at a disadvantage, and officials had previously warned that a direct cash injection into the United States could destabilise their economy.
The announcement came as attention turned to Trump’s forthcoming meeting with China’s president, Xi Jinping, scheduled for Thursday in the port city of Busan. The encounter will be the first between the two leaders since the start of Trump’s second term. He has said he expects to reach a “great deal” with Beijing, including a reduction of the 20 per cent tariff imposed on Chinese goods linked to the production of fentanyl. “The world is watching, and I think we’ll have something that’s very exciting for everybody,” he told business leaders at the Apec summit.
A truce in the US‑China trade war would mark a significant achievement for Trump’s Asia tour, which has already seen him secure commitments from Japan. In Tokyo, he signed a rare‑earths agreement with Prime Minister Sanae Takaichi and announced new energy and technology projects in the United States to be funded by Japanese investment. Japan has pledged to honour a $550bn commitment made under an earlier trade deal, with Commerce Secretary Howard Lutnick confirming up to $490bn in commitments during a dinner with business leaders.
Despite the progress on trade, prospects for renewed dialogue with North Korea appeared to diminish. Speculation had grown that Trump might use his time in the region to arrange a fourth meeting with Kim Jong‑un, but he dismissed the idea, saying: “We really weren’t able to work out timing.” North Korea announced on Wednesday that it had test‑fired a nuclear‑capable cruise missile the previous day, further complicating the diplomatic landscape.
For South Korea, the visit was also an opportunity to raise concerns over US immigration policy. Tensions have grown since a raid on a Hyundai battery plant in Georgia in September, during which more than 300 South Korean workers were detained. President Lee warned that companies could hesitate to invest in the United States unless the visa system was improved. “If that’s not possible, then establishing a local factory in the United States will either come with severe disadvantages or become very difficult for our companies,” he said.
Trump’s Asia tour has been marked by lavish receptions and symbolic gestures, from the golden crown in Gyeongju to the samurai helmet presented in Japan. Yet the real test lies in Busan, where he and Xi will attempt to resolve disputes that have unsettled global markets. Beijing has said the talks will address “a lot of problems”, while Mr Trump has promised a “great meeting”.
As the tour continues, the balance between ceremony and substance remains delicate. For now, South Korea has secured a long‑sought agreement, while the United States prepares for a potentially decisive encounter with China.
