Chinese Premier Zhu Rongji Embarks on State Visit to Korea

Chinese Premier Zhu Rongji, at the invitation of President Kim Dae-jung, will engage in a state visit to Korea from today through Sunday. During his visit, Zhu will hold a summit meeting with President Kim Dae-jung at Chong Wa Dae to discuss the situation on the Korean peninsula and promote bilateral economic cooperation. Zhu's visit coincides with North Korea's improving relations with the United States and Japan. The visit will see Zhu meeting with Korea's leaders, including Prime Minister Lee Han-dong, National Assembly Speaker Lee Man-sup, and leaders of the nation's four economic organizations, as well as attending the third Asia-Europe Summit (ASEM) meeting. The visit aims to reaffirm the friendship and cooperative partnership between Seoul and Beijing, with China maintaining its stance that the Korean peninsula issues be resolved peacefully by the two Koreas.

Key Takeaways:

• The summit meeting between President Kim Dae-jung and Premier Zhu Rongji is expected to discuss the situation on the Korean peninsula, promote bilateral economic cooperation, and explore ways to replace the 47-year-old ceasefire accord with a peace treaty.
• Premier Zhu Rongji will meet with Prime Minister Lee Han-dong, National Assembly Speaker Lee Man-sup, and leaders of the nation's four economic organizations during his visit.
• The visit aims to reaffirm the friendship and cooperative partnership between Seoul and Beijing, as well as solidify China's stance on resolving the Korean peninsula issues peacefully.
• President Kim Dae-jung is expected to highlight the importance of reconnecting the cross-border railway, which cuts through the Demilitarized Zone (DMZ).
• China has maintained diplomatic ties with Korea since 1992 and has become Korea's third-largest trading partner.
• The two-way trade between China and Korea amounted to $22.6 billion last year, with China earning the second-largest investment destination for Korean companies.

Statistics:

• $22.6 billion: The two-way trade between China and Korea last year.
• 47 years: The duration of the ceasefire accord in place on the Korean peninsula.
• 1992: The year Korea and China established diplomatic ties.
• 3rd: The ranking of China as Korea's trading partner.
• 2nd: The ranking of China as the largest investment destination for Korean companies.

Sources:

• Chong Wa Dae spokesman Park Joon-yeong
• President Kim Dae-jung
• Premier Zhu Rongji
• China's policy on the Korean peninsula
• Korea's diplomatic ties with China established in 1992
• Data on two-way trade between China and Korea from 1992