TIMELINE & AGENDA OF YOON-BIDEN TALKS

[Anchor Lead]

The timeline and agenda of the upcoming summit between President Yoon Suk-yeol and his U.S. counterpart, Joe Biden, have been disclosed. The talks will take place in the afternoon May 21 and will last about 90 minutes. The two leaders will discuss the North Korea issue as well as cooperation in economic security. South Korea will likely join the Biden administration's Indo-Pacific Economic Framework.

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The current leaders of Seoul and Washington will hold their first summit on May 21 at the presidential office in Yongsan. The session set to last around 90 minutes will consist of a small group meeting and an extended meeting. Topping the agenda of the small group meeting: response to the North Korea nuclear and missile provocations. The presidential office will show an action plan on bolstering the two country's extended deterrence. The allies will likely discuss the resumption of the South Korea-U.S. Extended Deterrence Strategy and Consultation Group meetings, which was only held twice since 2016. Sources say diplomatic solutions based on the Panmunjom Declaration will also be emphasized. COVID-19 aid for the regime is unlikely to be discussed, as Pyongyang has not responded yet. At the extended meeting, the two leaders will hold in-depth discussions on economic security. The goal is to strengthen the security aspect of economic cooperation in supply chain, resources and cutting-edge technology.

[Soundbite] Kim Tae-hyo(First deputy chief of Presidential Nat'l Security office) : "The alliance was expanded to an economic alliance through FTAs. At the upcoming summit, it could be expanded to technological cooperation as well."

South Korea has decided to join the Biden administration's Indo-Pacific Economic framework. President Yoon is set to attend a virtual summit launching the IPEF on May 24. The IPEF is expected to trigger opposition from Beijing for its anti-Chinese undertones. The presidential office says the initiative has no intention to ostracize China, and that discussions of FTA follow-up measures and economic cooperation between the two nations are currently underway. President Biden will visit a semiconductor factory.
A move viewed as part of efforts to improve economic security cooperation. According to Seoul's top office, the goal of the upcoming summit is to help the South Korea-U.S. strategic alliance take root as an axis of peace and prosperity in East Asia.