GYEONGJU, North Gyeongsang Province — The high-stakes summit between South Korean President Lee Jae Myung and Chinese President Xi Jinping on the occasion of the Asia-Pacific Economic Cooperation conferences may touch on the matter of peace and denuclearization on the Korean Peninsula, according to Lee's office on Friday.

"Regarding the exchange of opinions, I heard that (the two sides have) reached a consensus to discuss denuclearization of the Korean Peninsula and peace, as part of the livelihood issues that the two countries are facing," presidential spokesperson Kang Yu-jung told reporters Friday.

This comes as Lee, in his recent interview with Xinhua News Agency, asked China to play"a constructive role" in resolving the nuclear issues and building peace on the peninsula. In the interview, he added that the two should work together to reach their common goal.

Lee, a liberal president, has sought reconciliatory moves toward North Korea by saying peace on the Korean Peninsula would contribute to South Korea's economic growth.

There are also speculations that the two leaders could discuss ways to cooperate over the semiconductor-related technology, stabilize the supply chain for China's rare earth materials, and promote people-to-people exchange that had long been strained by geopolitical tensions.

All eyes are on the gift Lee will present to Xi during his state visit to South Korea, following Lee’s presentation of a replica Shilla Kingdom golden crown and the nation’s highest order to US President Donald Trump on Wednesday.

When asked about the gift, presidential spokesperson Kang declined to comment.

Lee and Xi are scheduled to hold talks in Gyeongju, North Gyeongsang Province, on Saturday, following a ceremony to hand over South Korea's APEC chairship to China. Inaugurated in June, Lee first met Xi on Friday as he chaired an APEC session for the 21 member economies. Xi last visited South Korea for a state visit 11 years ago.