President Lee Jae Myung and U.S. President Donald Trump are set to meet on Wednesday in Gyeongju on the occasion of the Asia-Pacific Economic Cooperation summit.

According to the presidential office, the high-stakes summit will take place at the Gyeongju National Museum in the afternoon.

Trump, traveling to South Korea on a state visit, will be presented a specially crafted replica of a Silla gold crown and be awarded the Grand Order of Mugunghwa, the nation’s highest honor.

Following the presentation, Trump and Lee will tour an exhibition of ancient Silla crowns at the museum before beginning official talks at a luncheon with key officials from both nations in attendance.

The discussions are expected to cover a range of bilateral issues, including tariff negotiations and the modernization of the U.S.-South Korea alliance. 

Attention is focused on whether the two sides can conclude ongoing trade talks, which have stalled for months amid disagreements about South Korea’s pledge to invest 350 billion U.S. dollars in its ally's economy.