By Lee Hyo-sik
The largest-ever overseas business forum was held in Shanghai, Friday, with more than 400 high-ranking government officials and business leaders from both Korea and China.
President Park Geun-hye, who was on a three-day state visit to the world’s second-largest economy, gave a speech to the forum participants, stressing the importance of Korea-China business cooperation.
According to the Korea Chamber of Commerce and Industry (KCCI), which organized the Korea-China Business Forum at the Sheraton Hotel in Shanghai, KCCI Chairman Park Young-maan, who is also Doosan Group chairman, and 200 other heads of Korean companies attended the gathering.
The previous record was a business delegation consisting of 125 heads of companies, who accompanied President Park to four South American nations in April to attend a KCCI-organized forum there.
About 200 Chinese business leaders also took part in the Shanghai meeting and discussed a host of business-related issues with their Korean counterparts.
“In line with improving overall bilateral relations, the Korea-China economic ties should be further strengthened across all industrial sectors,” President Park said. “Business leaders from both countries need to boost cooperation not only in manufacturing, but also in environment, health, culture and other new-growth sectors.”
While in Beijing Wednesday, Park signed 33 agreements with Chinese President Xi Jinping and Prime Minister Li Keqiang to help the Korea-China Free Trade Agreement (FTA) go into effect quickly, thus increasing bilateral trade and cross-border investment.
The leaders also agreed to remove non-tariff barriers, promote private-sector exchanges and jointly foster Internet-based commerce.
KCCI Chairman Park also called on Korean and Chinese business leaders to increase cooperation to achieve co-prosperity.
“Based on the spirits of the latest Korea-China summit, business leaders need to work together toward common property,” Park said in a welcoming speech. “We should do more to implement a wide range of economy-related agendas set by our leaders.”
Despite the increasingly unfavorable economic environment surrounding the two countries, Park said if business leaders work together, they can overcome any difficulties.
“We should take the initiative in furthering the Korea-China friendship, which has developed over the past two decades,” the KCCI chairman said. “The Korea-China FTA will increase bilateral economic cooperation one step further. To increase cross-border investment and trade, we need to have the FTA take effect quickly.”
The forum also included a series of seminars on an array of business-related issues such as the Korea-China FTA, and cooperation in the environment, health and entertainment industries.