"We're serious partners," Trump says of South Korea. "We're wedded and we have a very special relationship."

He talks about deepening collaboration with South Korea in shipbuilding - an industry in which South Korea is one of the world's leaders.

Earlier this year South Korean shipbuilding giant Hanwha Ocean bought the Philly Shipyard and plans to invest $5bn into it, as part of South Korea's investments into US shipbuilding.

That shipyard is "going to be one of the most successful yards... anywhere in the world", Trump says.

Trump wants things to "go back to the way it used to be", saying that when they announce good news, stock markets will go up, not down.

He goes on to say he inherited the "worst inflation" but US factories are now booming.

Manufacturing is growing and steel production "way up," he says.

Oil production is through the roof, and mining of "clean beautiful coal" production is also increasing.

Trump says this is a time of "economic revolution in America" and he's expecting close to 4% GDP growth in the next quarter.

"Yesterday I was with Mr Toyota in Japan," Trump said, adding that Japan has pledged to spend $10bn (£7.6bn) to build new car plants in "numerous states".

"We're bringing our car industry back," he says, adding that the US is "leading every nation in AI... by a lot".

Trump has also praised South Korea for being an industrial and technological powerhouse.

The entire world should be inspired by South Korea, he says.

Many study the success of South Korea but "most of them don't get it".

"They want to get it but it doesn't quite work out for them the same way it works out for you."

After four years of "weakness and disaster", Trump says, "America is back and is back stronger than ever before".

The US is "doing numbers like nobody has ever seen before", he says - a claim that he has repeated throughout his Asia tour.

The US now has the strongest economy, borders, military and friendships, he says.

"We're the hottest country in the world."

"Incredible people, incredible country", Trump says of South Korea as he starts his speech.

He calls South Korean president Lee Jae Myung a "terrific person" who he was looking forward to meeting with this afternoon.

There are "very few places" like South Korea, he said, pointing to its technological and industrial advancement.

"The entire world should be inspired by all that you've achieved," he said.

Trump has arrived on stage in an auditorium, to a standing ovation by the audience.

Trump's motorcade has arrived at the Gyeongju Arts Center, where he's expected to speak shortly.

We'll bring you updates as we get them.

Image source, EPA/Shutterstock

KPop Demon Hunters, the wildly popular animated film, got a nod from South Korean president Lee Jae Myung at the Apec CEO summit.

The Netflix title has become the streaming site's most-watched movie, and its songs have topped major music charts. This success is a source of pride for many South Koreans.

Calling the film a "global phenomenon", he recalled a part of the film where "K-pop idols and their fans unite in powerful solidarity" and performed a spiritual rite that "banishes darkness".

"Especially in times of crisis and uncertainty, it is the power of unity and cooperation that leads us toward a brighter future," he said.

"This timeless truth has long been proven by Korea’s vibrant and resilient 'K-Democracy' which triumphed over division and adversity through the power of its people."

Anthony Zurcher
North America correspondent, travelling with the president

Here's the view on board Air Force One as it flew from Japan to South Korea, escorted by F-16 fighter jets.

After touching down at Busan earlier, Trump flew on Marine One to the city of Gyeongju, where the Apec summit is held.

Image source, BBC/Anthony Zurcher

Image source, BBC/Anthony Zurcher

Image source, Getty Images

As world leaders descend on the South Korean city of Gyeongju for the Apec summit, they won't be the only recognisable faces there.

RM, leader of the K-pop boy band BTS, is set to deliver a keynote speech about Korean soft power at the Apec CEO summit today.

He will be the first K-pop artist to speak at this summit.

This is not the first time BTS have used their star power to shine a spotlight on international issues. The boy band was the first K-pop act to address an audience at the United Nations in 2018, where they encouraged young people to find their own voices.

Laura Bicker
China correspondent, reporting from Gyeongju

Image source, BBC/Laura Bicker

Police are patrolling the tombs and temples of this ancient capital better known as a South Korean tourist destination than a summit venue.

Around 19,000 police a day will be needed as President Donald Trump arrives to meet his host President Lee Jae Myung.

The Apec region is now a no fly zone.

Tourists are still milling around taking photos among the sunflowers - seemingly undeterred by the global spotlight now falling on this small South Korean town.

Image source, Reuters

Trump kicked off his Asia tour over the weekend in Malaysia, where he attended a gathering of South East Asian leaders.

The highlight of Trump's visit there was when he presided over a "peace deal" between Thailand and Cambodia, whose longstanding border dispute erupted into open conflict in July.

Image source, Reuters

Trump then flew on to Japan, where he met newly-elected Japanese prime minister Sanae Takaichi.

The two leaders heaped praises on each other and signed two deals: one on deepening cooperation in the rare earths industry, and another promoting a "new golden age" of US-Japan relations by reinforcing earlier trade agreements.

Trump also addressed an audience of US troops at a naval base near Tokyo.

On the recent Israeli strikes in Gaza that killed 26 people, this is what Trump told reporters on Air Force One: "They killed an Israeli soldier, so the Israelis hit back, and they should hit back."

But "nothing is going to jeopardise" the ceasefire in Gaza, Trump said.

"Hamas is a very small part" of the peace deal in the Middle East and "they have to behave"," he said.

"If they're not good, they're going to be terminated. Their lives will be terminated, and they understand that."

Image source, BBC/Anthony Zurcher

Trump has arrived at Gimhae International Airport in Busan, South Korea.

From here, they will take another flight to Gyeongju city and make their way to the Apec summit venue.

When asked how he felt about the upcoming talks with Chinese president Xi Jinping, Trump noted that a lot of groundwork had been done ahead of time.

“I am optimistic," he said. "I know a little bit about what’s going on because we have been talking to them. I’m not just walking into a meeting cold.”

Image source, Getty Images

Still on Air Force One en route to South Korea, Trump tells reporters that he's "not allowed to run" for a third term according to US law, which is "too bad".

"If you read it, it's pretty clear," he says.

The 22nd amendment of the US constitution bars presidents from seeking a third term - though there have been rumours that Trump would attempt to do so. His former advisor Steve Bannon said there was a "plan" to secure a third term for Trump.

Trump himself has said that he would "love" to run for a third term.

Just days ago, he told reporters aboard Air Force One - this time flying from Malaysia to Japan - that while he would "be allowed" to run again as vice-president, he had no plans to do so. Running as a VP would allow him to lead while circumventing the constitutional ban on a third presidential term.

More from Air Force One. Trump says he expects "a lot of problems" will be solved during his meeting with China's leader Xi Jinping, AFP reports.

The two leaders are expected to meet on the sidelines of the Apec summit on Thursday - in what would be their first meeting in Trump's second term.

All eyes are on trade negotiations, for which officials on both sides have recently agreed on a framework, spanning key sticking points from tariffs to TikTok and rare earths.

When asked how much he expected President Xi to push him on Taiwan, the self-governed island that China claims as its territory, Trump says that he's "not sure" if they'll discuss Taiwan.

Trump is telling reporters aboard Air Force One that while his focus right now is on trade negotiations with China, he could return to the region to meet with North Korean leader Kim Jong Un, Reuters news agency reports.

Trump previously signalled his desire to meet Kim during his Asia trip - though North Korea has not given a response.

Image source, Getty Images

Security officials in Gyeongju are on high alert ahead of Trump's visit today and the Apec summit this weekend.

Both Trump and Xi will be staying in the city during their visits, in the Hilton and Kolon Hotel respectively.

The hotels have upgraded their executive suites with bulletproof glass and tightened surveillance ahead of their arrivals, local media reported.

The city, home to Unesco-listed ancient tombs and Buddhist temples, has scrambled to get its infrastructure ready to host the large-scale gathering of world leaders and their aides.

Nearly 20,000 personnel will be deployed, along with anti-drone systems and armoured vehicles, to secure the Apec summit venue and nearby hotels.