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Chinese foreign relations

China and South Korea Strengthen Strategic Cooperative Partnership

Strategic Insights

— 1 min read

Chinese President Xi Jinping and South Korean President Lee Jae-myung stressed the importance of maintaining a strong and stable relationship between China and South Korea, emphasizing cooperation in areas such as trade, security, and culture. During a recent state visit, President Xi proposed a four-point proposal for opening up new prospects for China-South Korea relations, including enhancing strategic communication, deepening mutually beneficial cooperation, strengthening the friendship between the two peoples, and strengthening multilateral cooperation.

Key Takeaways:

  • President Xi proposed a four-point proposal for China-South Korea relations, including enhancing strategic communication, deepening mutually beneficial cooperation, strengthening the friendship between the two peoples, and strengthening multilateral cooperation.
  • The two leaders agreed to accelerate the second phase of negotiations on the China-South Korea free trade agreement and tap the cooperation potential in emerging fields such as artificial intelligence, biopharmaceuticals, and green industries.
  • China and South Korea will strengthen communication and coordination on regional and international affairs to jointly promote regional and global peace and development.
  • The two countries agreed to facilitate cross-border travel and encourage more exchanges among the youth, media, and think tanks as well as at the local level to foster mutual affinity between their peoples.
  • China and South Korea have agreed to work together to address regional and global challenges, including trade and security issues.
  • The two leaders reaffirmed the spirit of mutually beneficial cooperation between the two nations, which has supported their economic growth and was rooted in their shared historical experience of hardship.

Statistics:

  • China and South Korea have a trade volume of over $310 billion in 2022 (Source: China Customs).
  • The China-South Korea free trade agreement is expected to increase trade between the two countries by 10% (Source: Ministry of Commerce, China).
  • Over 20 million people visit each other's countries annually, making it one of the most growing tourism markets in the region (Source: Korea National Tourism Organization).
  • China and South Korea have cooperated on several regional and international issues, including the Belt and Road Initiative and the Asian Infrastructure Investment Bank (Source: Ministry of Foreign Affairs, China).

Sources:

  • Xinhua News Agency
  • Korea Times
  • KBS World
  • Korea Herald
  • Global Times
  • Ministry of Commerce, China
  • Ministry of Foreign Affairs, China
  • China Customs
  • Korea National Tourism Organization

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