EXPLAINERNews|Xi JinpingCan China and South Korea reset complex ties after Xi-Lee summit?Analysts say both countries increasingly rely on each other for economic and security reasons amid geopolitical churn in the Asia Pacific region.

Seoul, South Korea – On Monday, Chinese President Xi Jinping and South Korean President Lee Jae Myung held a summit to discuss bilateral relations amid regional tensions.

The summit focused on strengthening economic ties, with China being South Korea’s largest economic partner. The leaders also discussed the importance of regional security, especially in light of recent missile activities by North Korea.

Both leaders emphasized the need for regular communication to bolster mutual trust and contribute to regional peace and stability.

President Lee highlighted the urgency of engaging North Korea in dialogue, emphasizing China's influence over North Korea as crucial. The summit underscored the importance of collaborating on peace initiatives for the Korean Peninsula.

Concerns over steel structures in the Yellow Sea were addressed, with both countries agreeing to hold vice-ministerial talks on maritime boundaries within the year.

During the summit, South Korea and China signed 14 memorandums of understanding in trade, technology, and environmental sectors. South Korean conglomerates such as Samsung and LG were represented.

China remains a significant source of rare earth minerals for South Korea, crucial for semiconductor production. Additionally, Huawei plans to introduce its Ascend 950 AI chips in South Korea next year.

The leaders discussed improving cultural ties, with an emphasis on expanding access to Korean entertainment content in China, despite existing unofficial restrictions.

The summit aimed at enhancing bilateral relations by focusing on economic collaboration and addressing security concerns. Both countries expressed a commitment to developing a stable and prosperous partnership.

Based on reporting by Al Jazeera.