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Biden's Visit Brings Geopolitics Back Into Focus

NORTH KOREA

US President Biden is scheduled to visit Japan and South Korea over the May 20-24th period.

  • Discussions will take place on the Indo-Pacific Economic Framework, which is centered around increasing US economic involvement in Asia. Supply chains and energy will reportedly provide other focus points.
  • Local South Korean papers report Biden will be in Seoul on Saturday.
  • There have been reports re: the potential for North Korean missile/nuclear tests, or potentially both, to coincide with Biden's visit to the region. Those worries have also been flagged by various U.S., South Korean & Japanese officials.
  • North Korea reportedly test fired an ICBM back in March, the first such test since 2017.
  • Tensions on the Korean peninsula have not been a major driver of Korean asset sentiment this year, but Biden's trip is something to be mindful of, particularly with USD/KRW fairly close to 2020 highs.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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