US President Donald Trump is considering visiting South Korea later this month just ahead of an Asia-Pacific Economic Cooperation (APEC) summit, sources said on Saturday.

Government circles speculate that Trump may hold bilateral summits with South Korea and China before the APEC gathering opens and depart without attending the main session of the summit, slated for Oct. 31-Nov. 1 in the southeastern city of Gyeongju, reports Yonhap news agency.

"President Trump is expected to arrive on Oct. 29 and visit Gyeongju," a ruling party official told Yonhap News Agency by phone. "However, his schedule has yet to be finalised and is still being coordinated between South Korea and the U.S."

Trump is expected to attend the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur from October 26-28 before heading to Japan for talks with the country's new prime minister.

He is then likely to travel to South Korea after his Japan stop, diplomatic observers said, raising the possibility of a one-day trip.

"As for when he will depart after arriving on the 29th, nothing has been confirmed at this point," a government official said.

U.S. Treasury Secretary Scott Bessent earlier said Trump and Chinese President Xi Jinping will have a "pull-aside" meeting in South Korea late this month.

A ruling party official, meanwhile, downplayed the possibility of Trump's meeting with North Korean leader Kim Jong-un on the sidelines of the APEC summit.

Meanwhile, Trump and Chinese President Xi Jinping will have a "pull-aside" meeting in South Korea late this month, Treasury Secretary Scott Bessent said, anticipating a "pretty big breakthrough" in his parallel trade talks with his Chinese counterpart.

Bessent made the remarks during a CNBC interview, a day after Trump also reaffirmed he will meet the Chinese president "in four weeks," as South Korea is preparing to host the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju from Oct. 31-Nov. 1.

"The most important thing we are going to see is a meeting, a pull-aside meeting with President Trump and party chair Xi in Korea towards the end of the month," Bessent said.