U.S.-North Korea Summit Update

U.S.-North Korea Summit Update

U.S. President Donald Trump and North Korean leader Kim Jong-un will meet for one day on Tuesday, the White House said, announcing the detailed schedule for the historic summit.

The two leaders are to begin their high-stakes meeting at 9 a.m. as previously announced, with translators only, before moving on to an expanded bilateral meeting and then a working lunch, the White House said in a statement Monday.

“The discussions between the United States and North Korea are ongoing and have moved more quickly than expected,” it said.

Trump had earlier left open the possibility of continuing talks over several days depending on how they went.

He is now scheduled to leave Singapore at around 8 p.m. Tuesday after holding a media availability, the White House added.

Joining him at the expanded meeting will be U.S. Secretary of State Mike Pompeo, Chief of Staff John Kelly and National Security Advisor John Bolton. The working lunch will be attended by White House press secretary Sarah Sanders; Amb. Sung Kim, who has led substantive talks with the North going into the summit; and Matt Pottinger, senior director for Asia on the White House National Security Council.

The 9 a.m. meeting is scheduled to take place at the Capella Hotel on Sentosa Island off Singapore’s mainland. It was not immediately clear whether the other meetings would also be held at the same site.

Photo by Beegee49

U.S. Secretary of State Mike Pompeo said Monday that the United States will make sure to verify any dismantlement of North Korea’s nuclear weapons program.

Speaking to reporters ahead of Tuesday’s summit between U.S. President Donald Trump and North Korean leader Kim Jong-un, Pompeo singled out “verification” as the missing element in previous agreements to curb the North’s nuclear ambitions.

“The ‘V’ matters,” he said in reference to the acronym for the U.S. aim of complete, verifiable and irreversible denuclearization (CVID) of North Korea. “We’re going to ensure that we set up a system sufficiently robust that we’re able to verify these outcomes, and it’s only once the ‘V’ happens that we will proceed apace.”

He refused to discuss in detail the negotiations that continued to take place in Singapore on the eve of the summit. Senior diplomats from the United States and North Korea had at least two rounds of talks on Monday to hammer out a potential agreement to dismantle the regime’s nuclear weapons program in exchange for security guarantees.

Pompeo said the negotiations were moving “quite rapidly” and that he anticipated the two sides to “come to a logical conclusion even more quickly than we anticipated.”

He also said Trump has offered a brighter future for North Korea if it denuclearizes and that it will become clear Tuesday whether Kim “truly shares this vision.”

Washington is prepared to provide security assurances that are “different” and “unique” compared to those the U.S. has been willing to offer before, but a lot of work still remains, according to the top U.S. diplomat.

Meanwhile, he added that CVID is the only outcome the U.S. will accept and that sanctions on North Korea will remain until that goal is achieved.

A South Korean presidential aide expressed expectations on Monday that the upcoming summit between U.S. President Donald Trump and North Korean leader Kim Jong-un will yield a positive result, though they may engage in an intense tug of war.

Nam Gwan-pyo, a deputy director of the presidential National Security Office, made the remarks ahead of the historic encounter slated to take place in Singapore on Tuesday.

“Although we expect an intense tug of war between the two sides to continue until the end of tomorrow’s summit, we expect a good outcome,” the presidential aide said during a press briefing in Singapore.

“We have come a long way and are well aware that a long journey lies ahead of us. We hope that tomorrow’s summit will help dissolve the world’s last remaining vestige of the Cold War and open the door wide for peace and prosperity on the Korean Peninsula,” he added.

Earlier in the day, U.S. and North Korean officials held last-stage negotiations apparently over sensitive summit agenda issues such as the sequence and pace of Pyongyang’s nuclear disarmament process and security assurances in return for it.

During the briefing, Nam noted that the planned summit is a product of efforts by the leaders of the two Koreas and the United States to “boldly break with past practices and open a new future.”

South Korean President Moon Jae-in and U.S. President Donald Trump held a telephone conversation on Monday, Moon’s presidential office Cheong Wa Dae said.

The unexpected telephone conversation was made on the eve of a historic summit between Trump and North Korean leader Kim Jong-un in Singapore.

Both Trump and Kim arrived in Singapore on Sunday.

President Moon expressed hope for the success of the unprecedented U.S.-North Korea summit, telling his U.S. counterpart that all other South Koreans will pray for its success, Cheong Wa Dae spokesman Kim Eui-kyeom told a press briefing.

The South Korean president said the Trump-Kim summit, if it succeeds, will be a “gift” to the entire world, according to Kim.

“President Moon and President Trump agreed Trump and Kim will be able to make a great achievement if the two leaders come together to find a common denominator through frank discussions,” the Cheong Wa Dae spokesman said.

Trump said he will also send his Secretary of State Mike Pompeo to Seoul immediately after his Singapore summit with Kim to explain the outcome of the first-ever U.S.-North Korea summit.

The U.S. president said he will also closely discuss ways to implement the outcome of the U.S.-North Korea summit with President Moon, Kim said.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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