Trump meets South Korean president in Gyeongju seeking investments

US President Donald Trump met with South Korean President Lee Jae Myung in the city of Gyeongju on Wednesday – the final stop on his Asia tour to secure new investment deals.

“The Republic of Korea is a valued American friend and close ally. And as we see in this beautiful city, it is truly one of the most remarkable nations anywhere in the world,” Trump said before the meeting at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, adding that South Korea’s president is “a great person.”

During their bilateral meeting, Lee urged Trump to consider allowing South Korea access to fuel for conventionally armed nuclear submarines – a long-standing restriction under a U.S. nonproliferation treaty.

Trump’s earlier stops on his trip included visits to Malaysia and Japan.

According to his Visit to Japan Trump said a trade deal with South Korea has proven more difficult as he seeks an additional $350 billion in U.S. investment, Trump said. Trump predicted that total new investment could top $22 trillion by the end of his first year in the White House.

Trump’s focus turns to Japan and South Korea as the Asia tour continues

“I estimate we’ll probably be at $20 or $21, maybe even $22 trillion Investments flowing into our country “At the end of the first year of my second term,” the president said. “And we had an extremely successful first term.” We had our country’s strongest economy in history, the strongest we’ve ever had. But this is mind-boggling in my opinion. We have great politics. There are some very good things happening.”

“Around the world, we are signing one trade agreement after another to balance our relationships on the basis of reciprocity,” Trump added. “I have signed groundbreaking agreements with Malaysia, Cambodia and Japan, and our agreement with the Republic of Korea will be finalized very soon. These agreements will be incredible victories for all of us, because everyone is better off when we have stable partnerships that are not plagued by chronic problems and imbalances.”

Trump spoke to business leaders at the event and described an “economic revolution” underway in the United States. The president urged leaders not to listen to “small minds without vision” and promised to “build, act, prosper and prosper together.”

TRUMP ANNOUNCES A MEETING WITH XI JIN PING AT THE APEC SUMMIT IN SOUTH KOREA, SCHEDULED FOR NEXT MONTH

Trump later received South Korea’s Grand Mugunghwa Order – the country’s highest honor – along with a replica of a royal crown from the ancient Silla Kingdom, symbolizing Seoul’s recognition of his past diplomatic efforts.

Trump’s visit coincided with new tensions on the Korean peninsula after North Korea said it fired sea-to-surface cruise missiles off its west coast.

“He’s been firing rockets for decades, right?” Trump said about North Korean leader Kim Jong Un.

Trump reiterated his willingness to meet with the North’s leader, saying: “We had a really good understanding of each other.”

In a separate speech, the South Korean leader warned of rising protectionism and called for global trade cooperation – a message that contrasted with Trump’s “America First” plea.

Trump also previewed his upcoming meeting with Chinese President Xi Jinping.

“You know Chinese President Xi is coming here tomorrow and we will, I hope, reach an agreement,” Trump said. “I think we’ll do a deal. I think it’ll be a good deal for both of them. And that’s a really great result.”

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

“It’s better than fighting and having all sorts of problems. And, you know, there’s no reason for it,” he added.

The Associated Press contributed to this report.