Tuesday’s meeting between Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae Myung in South Korea’s southeastern port city of Busan is their third and likely final summit. “I hope that (South) Korea and Japan can grow closer emotionally, economically, socioculturally, and in terms of security, just as they are in physical distance,” Lee said at the start of the meeting. South Korea and Japan have sought ways to tackle together challenges like North Korea’s expanding nuclear arsenal and supply chain vulnerabilities. South Korea and Japan have pledged hundreds of billions of dollars in U.S. industrial investments in hopes of avoiding the Trump administration’s highest tariffs. But South Korean officials acknowledge they remain at odds with Washington over how Seoul’s proposed $350 billion package would be structured and operated.