Ahead of next week’s G20 Summit, United States President Joe Biden is scheduled to meet with South Korean President Moon Jae-in. The two leaders are expected to discuss various issues surrounding the current supply chain disruption, including additional cooperation between the two countries during supply chain bottlenecks in the future.  

The supply chain crisis has impacted the United States and South Korea significantly, with product shortages and delays affecting both economies. Across the United States, holiday season items such as Christmas trees, toys and sporting goods are top of mind for consumers, but the disruption extends across numerous product categories. Meanwhile, in Korea, pharmaceutical companies struggle with production due to the lack of raw materials. 

In addition to the G20 Summit, both President Biden and President Moon will be attending the COP26 climate talks, where world leaders will assess progress made on environmental achievements since the Paris Agreement went into effect. The COP26 meeting will host leaders from two hundred countries and take place from October 31st to November 12th in Rome. 

Attending the COP26 meeting reinforces the two countries’ commitment to reducing greenhouse gas emissions. One of the first actions of the Biden Administration was to rejoin the Paris Agreement and tackle the climate crisis at home and abroad. In April, President Biden announced a new target for the United States to achieve a 50 to 52 percent reduction in net greenhouse gas pollution in 2023 and reach net-zero emissions economy-wide no later than 2050. In Korea, President Moon committed to cutting carbon emissions by 40 percent below 2018 levels by 2030 and is aiming to be carbon neutral by 2050. Both countries are looking to reduce industrial use of fossil fuels and accelerate citizens’ adoption of electric and hydrogen-powered vehicles.

This will be the second meeting between President Moon and President Biden this year, the first being the recent inaugural summit at the White House in May, where the two leaders discussed the allyship between the two countries as well as continued trade cooperation.