South Korea announced they’ve reached an agreement on details of the trade deal with the U.S., following the bilateral meeting between President Lee and President Trump.

The authorities have been scrambling to accommodate this year’s Asia-Pacific Economic Cooperation forum in Gyeongju, which is known for tombs, temples and pagodas.

President Trump was gifted a ceremonial crown Wednesday by South Korean President Lee Jae Myung. Why it matters: South Korea's gift of a monarchical symbol comes the same month that more than 7 million Americans rallied in No Kings protests.

North Korea said Wednesday that it has conducted successful cruise missile tests, the latest display of its growing military capabilities and one that came a day before U.S. President Donald Trump visited South Korea.

Kim Yong-beom, President Lee Jae Myung’s chief of staff, said South Korea had reached “an agreement on the details” in tariff negotiations with the United States. With the accord, Kim said, U.S. tariffs on South Korean exports would be 15 percent. South Korea has been contending with a rate of 25 percent that took effect in August.

President Trump met South Korean leader Lee Jae Myung in Gyeongju, discussing partnerships during the Asia-Pacific Economic Cooperation summit.

CNBC's Chery Kang and Kaori Enjoji report on U.S. President Donald Trump's dynamic Asia tour, as he heads to South Korea's historic city of Gyeongju for the high-stakes APEC Summit, following his strategic bilateral talks in Tokyo.

U.S. President Donald Trump landed in South Korea on Wednesday to a warm reception and a ceremonial 21-gun salute as the country welcomed him for the Asia-Pacific Economic Cooperation (APEC) gathering.