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South Korean President Moon Jae-in presides over a meeting with senior secretaries and aides Monday at the Blue House. (Yonhap News)

As the first summit between South Korean President Moon Jae-in and US President Joe Biden approaches, there’s a growing interest about what might be achieved at the summit.

In addition to defining the overarching framework of South Korea-US relations over the next four years, the summit is likely to have a broader and more profound effect on South Korean society than any previous summit given its timing during the COVID-19 pandemic and a sharp rivalry between the US and China over semiconductors and other high-tech industries.

In his opening remarks at a meeting of senior advisors and aides Monday, Moon promised to make every effort to prevent the spread of COVID-19, keep the vaccination campaign on track, and speed up the return to normal life.

Moon also reiterated his determination to use his trip to the US to strengthen cooperation on vaccines and turn Korea into a global hub for vaccine production.

Moon’s comments indicate that Seoul regards increasing cooperation with the US on the supply of vaccines and other aspects of the COVID-19 response to be a key item on the summit agenda.

The US had been preoccupied with its domestic campaign against COVID-19 for some time, but now the pressure seems to be letting up. On Thursday, the US waived the requirement to wear masks for those who have been fully vaccinated.

Some key questions for the summit are how much the vaccine supply schedule can be accelerated and what kind of partnership can be formed between South Korea and American biotech companies.

Other major issues about which Moon and Biden need to coordinate their opinions are North Korea policy, China policy, and cooperation on semiconductors and other high-tech areas. To be sure, the North Korean nuclear issue is a central item on the agenda.

“The time for long deliberations is [. . .] coming to an end,” Moon said during a special address on May 10, marking the fourth anniversary of his inauguration.

“We will restore dialogue [. . .] between the United States and North Korea and find a way to step once again toward peaceful cooperation,” Moon said, urging North Korea to make a favorable response.

When the Biden administration unveiled the outline of its newly reviewed North Korea policy at the end of April, it expressed its willingness to take a gradual and step-by-step approach to finding a diplomatic solution to the North Korea nuclear issue. Given that background, the South Korean government is likely to make every effort to produce a package of joint incentives with the US that North Korea would find appealing.

Moon’s primary goal is likely to be convincing Biden to agree to a joint statement that contains language about upholding the Singapore statement that the US and North Korea signed on June 12, 2018. That was the statement in which North Korean leader Kim Jong-un affirmed his commitment to the “complete denuclearization of the Korean Peninsula.”

Moon might try to go a step beyond that by adjusting or suspending South Korea and the US’s large-scale joint military exercises, which are a major component of what North Korea regards as the US’s “policy of hostility.” Pyongyang has said that retracting that policy is a prerequisite for dialogue. It also remains to be seen how Moon will handle tricky issues such as the US’s insistence on bringing up North Korean human rights issues.

Another major question that can’t be sidestepped in this summit is how far South Korea will participate in the US’s strategy of containing China. Japan mentioned Taiwan — which China regards as a core issue — in a joint statement released after a summit with the US on April 16, showing that Japan is becoming more closely tied to the US’s China strategy.

In contrast, the South Korean government has taken pains to downplay the possibility of its participating in the Quad. Seoul has told reporters that the US hasn’t asked it to join the Quad and that it’s exploring ways to harmonize its New Southern Policy with the US’s Indo-Pacific policy.

The Quad, short for the Quadrilateral Security Dialogue, is an informal grouping of four countries seeking to contain China.

But more recently, there have been signs of a change as the South Korean government stresses vaccine cooperation with the US, raising the possibility of a significant shift in its basic stance.

The final issue is South Korea and the US boosting cooperation on semiconductors and other high-tech industries. On Feb. 25, shortly after taking office, Biden signed an executive order mandating a 100-day review of the safety of supply chains for four key products, including semiconductors.

The US is attempting to reorganize supply chains in partnership with South Korea and Taiwan, both semiconductor powerhouses. Semiconductors are a foundation industry that could aid the US’ attempts to prevail in areas where China currently holds the advantage, including 5G communication networks, artificial intelligence, and big data.

Since South Korean companies intend to actively take part in that campaign, large-scale investment plans are likely to be announced during the South Korea-US summit.

By Gil Yun-hyung, staff reporter

Please direct comments or questions to [english@hani.co.kr]