The new South Korean president, Lee Jae-myung, calls himself a foreign policy “pragmatist”. He says he is driven by South Korea’s national interest, rather than ideology, and has spoken of his desire to improve relations with China and North Korea.

Facing a complex set of thorny challenges at home and abroad, Lee Jae-myung says he will deal with them with “pragmatism.”

The new South Korean administration will likely make efforts to buy time for U.S. trade talks, as it studies the negotiations of bigger neighbours Japan and China for leverage, according to sources familiar with the ruling party's thinking.