Korea, China discuss follow-up steps to summit, seek enhanced trade cooperation
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Industry Minister Kim Jung-kwan, right, shakes hands with Chinese Commerce Minister Wang Wentao in Beijing, Friday. Yonhap
Industry Minister Kim Jung-kwan met with his Chinese counterpart in Beijing on Friday to discuss follow-up measures to a recent summit between their countries' leaders and explore ways to strengthen economic and trade cooperation, Kim's office said.
The meeting with Chinese Commerce Minister Wang Wentao took place after President Lee Jae Myung held talks with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum in Korea on Nov. 1, according to the Ministry of Trade, Industry and Resources.
It also marked the first solo visit to China by a Korean industry minister since 2018.
The two ministers shared the view that strengthened cooperation should deliver tangible benefits and contribute to improving the livelihoods of people in both countries.
The two ministers acknowledged that bilateral trade has remained stagnant since reaching a record high of US$310.4 billion in 2022 and agreed to work together to expand trade and promote mutual investment, the ministry said.
They also decided to hold regular ministerial-level discussions, using both bilateral and multilateral platforms, to address economic and trade issues more effectively.