Moon Jae-in to deliver South Korea’s State of the Nation on Wednesday
Moon Jae-in will address the National Assembly in Seoul today. Today’s address will be Moon’s second state of the nation speech since assuming power in May.
The president’s address will be bolstered by news that South Korea and China have normalised relations following a year-long standoff over the deployment of a US anti-missile system in the country.
Beijing is Seoul’s largest trading partner, and a year of frosty relations has taken its toll on the South Korean economy. It is estimated that the country has missed out on $6.5 billion in Chinese tourism revenue this year; the news of normalised relations has seen shares in South Korea’s tourism and retail companies rally.
Interestingly, US President Donald Trump will visit the country next week, where he will also address the National Assembly and emphasise the enduring relationship between the two countries. As such, Moon’s address will need to be wary of offending China while also celebrating South Korea’s close relationship with the US.
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