The 2nd China-ROK Practical Cooperation and Exchange Meeting in the Economic Field was held in Seoul

On October 22, 2023, in Seoul, the 2nd China-Korea Practical Cooperation and Exchange Conference took place.

This event was co-hosted by the National Development and Reform Commission of China and the Ministry of Economy and Finance of South Korea. Among the speakers at the opening ceremony were Wu Hao, Secretary General of the National Development and Reform Commission; Fang Kun, Chargé d’Affaires at the Chinese Embassy in South Korea; and Kim Ban-sik, First Deputy Minister of the Ministry of Economy and Finance of South Korea. Approximately 180 representatives from local governments and industries, including sectors like automotive, electronics, healthcare, digital commerce, and finance, attended the conference.

During the conference, Chinese representatives emphasized that China and South Korea are not only neighbors but also important partners. Since the establishment of diplomatic relations 32 years ago, the bilateral relationship has seen rapid growth, benefiting the people of both nations and contributing positively to regional peace and prosperity. They underscored the need for both sides to implement the significant consensus reached by their leaders, collaborate in facing global challenges, and firmly support economic globalization. There was a strong call to combine efforts to create new sources of prosperity, enhance market connectivity, and expand cooperation into new fields, particularly in high-end manufacturing, the digital economy, and green low-carbon initiatives. The ultimate goal is to strengthen the resilience and connectivity of the industrial and supply chains, achieving high-level, mutually beneficial development.

On the South Korean side, representatives noted that since the establishment of diplomatic relations, substantial achievements have been made in bilateral economic and trade cooperation, greatly contributing to each country’s economic development. They expressed a desire to build on the successes already attained, jointly maintain a free and open international investment and trade environment, and continually expand exchanges among governments, businesses, tourism sectors, and international students to foster a positive cooperative atmosphere. There were also calls for deepening research and collaboration on topics such as artificial intelligence, carbon neutrality, and aging populations, with initiatives for a stronger international voice in these areas.

The conference featured presentations from relevant Chinese departments on the current state and progress of China-Korea industry cooperation, investment collaboration, and third-party market cooperation. The South Korean side discussed the current investment environment in their country. Various local governments, including Xi’an, Yanchen, Chungcheongnam-do, and Jeollbuk-do, shared their unique advantages and efforts in promoting China-Korea economic cooperation. The attendees engaged in lively discussions about the current status and future prospects of cooperation in related fields, creating an energetic and interactive atmosphere.