Presidents Park Geun-hye and Barack Obama will hold their first summit in Washington, D.C. on May 7 with North Korea’s nuclear threat, Seoul’s demand for the right to reprocess used atomic fuel and the future development of their bilateral alliance topping the agenda.

The talks will take place during Park’s six-day visit to the U.S. that coincides with the 60th anniversary of the two countries’ alliance.

The two leaders face the security challenge of North Korea, the task of evaluating their partnership in the midst of flux in Northeast Asia and a host of bilateral issues.

This will be Park’s first overseas trip since she took office in February.

“The visit will be an important opportunity in which the two countries can evaluate their relations on the occasion of the 60th anniversary of their alliance this year and set the new direction of bilateral cooperation and take the comprehensive strategic alliance a step higher,” Park’s spokesman Yoon Chang-jung said.

Park will be first flying to New York on May 5 to meet with U.N. Secretary-General Ban Ki-moon and Korean residents there, before traveling to Washington the next day. In the U.S. capital, Park will hold summit talks with Obama and attend a luncheon. Park is also to attend a dinner to commemorate the Korea-U.S. alliance, and participate in a roundtable hosted by the U.S. Chamber of Commerce, as well as a meeting with Koreans and Korean-Americans.

On her way back to Seoul, Park will stop over in Los Angeles and join Mayor Antonio Villaraigosa for a luncheon. She will also meet with Korean and Korean-American residents in the city.

Park and Obama must cover wide-ranging issues in their talks, including the direction of the countries’ relations, coordination of measures against North Korea and its nuclear ambitions, as well as their roles in Northeast Asia and the global community.

While the two countries boast a well-synchronized partnership ― as was emphasized during last week’s Seoul visit by U.S. Secretary of State John Kerry ― they are also entering tough negotiations over Seoul’s demand to be able to reprocess spent fuel rods at nuclear reactors for energy purposes. The working-level negotiations for the civilian accord that expires in March next year began this month. Settling the ratio of defense cost sharing for the U.S. Forces in Korea has also repeatedly been a sticking point entwined with domestic politics. Park and Obama are, meanwhile, expected to reaffirm cooperation in successfully implementing their free trade agreement and the wartime operational control transfer slated for 2015.

The two governments, which have stated their common intention to diplomatically and peacefully deal with security threats on the Korean peninsula with strong military deterrence, also are yet to work out the details of how to break through the latest security quandary posed by the North, as well as Park’s “trustpolitik” mantra.

In the long-term, the leaders must set the direction of the future for the two allies that face the new regional dynamics among important regional players such as China and Japan embroiled in historical conflicts.

In announcing Park’s visit, Washington underscored the importance of working with the South.

“President Park’s visit underscores the importance of the U.S.-ROK alliance as a linchpin of peace and security on the Korean Peninsula and in the Asia Pacific region, and of the central role of alliances in the president’s Asia-Pacific rebalancing effort,” the White House said in a statement.

While in Washington, Park may have a chance to address a joint meeting of Congress, sources said.

Two U.S. congressmen, Steve Israel and Ted Poe, formally asked House Speaker John Boehner to invite Park to deliver a speech for a session. It is rare for a visiting president to deliver such a speech during a trip that is not a formal state visit.

By Lee Joo-hee (jhl@heraldcorp.com)