Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
INTERVIEW COVID cooperation brings momentum for 30th anniv. of Korea ties in 2022: Chinese envoy
Chinese Ambassador to South Korea Xing Haiming speaks during an interview with The Korea Times and its sister paper the HanKook ilbo, at the embassy in Seoul, Feb. 5. Korea Times photo by Choi Won-suk
By Yi Whan-woo
Ambassador Xing suggests linking Moon-Xi diplomatic initiatives to bolster economic cooperation
By Yi Whan-woo
Continued exchanges despite the COVID-19 pandemic have brought new momentum to South Korea-China ties, which will have their 30th anniversary next year, according to Chinese Ambassador to Seoul Xing Haiming.
The ambassador said he will actively take part in making prospects brighter for bilateral relations.
These efforts will include the 2021-2022 Year of Cultural Exchange, proclaimed by President Moon Jae-in and Chinese President Xi Jinping, and the so-called China-South Korea Relations Future Development Committee, a body aimed at setting up a cooperative roadmap based on the past
“The challenges we underwent during the COVID-19 crisis only heightened bilateral relations,” Xing said during a joint interview with The Korea Times and its sister paper the Hankook Ilbo, at the embassy, Feb. 5.
Among the exchanges listed by the ambassador were multiple phone calls between Moon and Xi; the successive South Korea visits of Yang Jiechi, a member of the Political Bureau of the Chinese Communist Party (CPC) Central Committee and director of the Office of the Central Commission for Foreign Affairs; and Wang Yi, state councilor and foreign minister; a fast-track entry system for South Korean businesspeople to China; and the seventh annual repatriation of remains of Chinese soldiers who died during the 1950-53 Korean War.
“All these efforts were precious because they came amid the COVID-19 situation. Accordingly, they brought new momentum and fresh energy to South Korea-China relations,” Xing said.
He described bilateral relations since their establishment on Aug. 24, 1992, as “Mostly based on cooperation despite ups and downs.”
President Moon Jae-in and Chinese President Xi Jinping proclaimed the 2021-2022 Year of Cultural Exchange as part of celebration of the 30th anniversary of the bilateral ties in 2022, during their phone call, Jan. 26. Yonhap
This year's first phone call between Moon and Xi on Jan. 26, according to the ambassador, is especially meaningful with reference to the 30th anniversary of Seoul-Beijing friendship.
“The two heads of state sufficiently exchanged opinions and came up with a grand blueprint for future relations,” Xing said.
One blueprint item, the future development committee, was agreed on to be formed during a meeting between the foreign ministers of the two countries, in November 2020.
“I expect that the working-level officials of the two countries will faithfully implement a shared understanding between our two leaders. Accordingly, I and the Chinese Embassy in Seoul will take an active role to enhance and upgrade bilateral ties,” Xing said.
Chinese Ambassador to South Korea Xing Haiming speaks at the embassy in Seoul during an interview with The Korea Times and its sister paper the HanKook ilbo, Feb. 5. Korea Times photo by Choi Won-suk
Linkage of diplomatic initiatives
With China being the only major economy to avoid contraction in 2020, the country will embark on its 14th Five Year Plan.
Noting the fact that China is South Korea's largest trading partner, Xing suggested that the two nations link Moon's two signature diplomatic initiatives ― the New Southern Policy and the New Northern Policy ― with China's economic development project, Belt and Road Initiative.
Convinced by Chinese President Xi, the Belt and Road Initiative is one of the most ambitious infrastructure projects ever conceived, to improve connectivity and cooperation among multiple countries across the continents of Asia, Africa and Europe.
With a focus on expanded economic cooperation, Moon's New Southern Policy targets the 10 ASEAN states and other countries to the south of South Korea, and the New Northern Policy targets those in the north, such as Russia.
“A win-win situation can be created if we link our respective diplomatic initiatives, discover their potential and complement their disadvantages with each other's advantages,” Xing said.
The ambassador also suggested that South Korean companies make balanced investments in both eastern and northwestern China. He said that eastern China includes the coastal regions, which are home to “a variety of industries and related infrastructure,” and therefore can be an ideal place for foreign investors to begin businesses, while northwestern China is characterized as having vast land and a huge population, making “market prospects very high.”
“The chains of production, supply and value between the two countries are deeply connected,” Xing said, pointing out the fact that bilateral trade volume amounted to $300 billion last year despite the coronavirus pandemic.
“This interconnection undoubtedly supports the reciprocal nature and huge potential of bilateral cooperation. And I have reasons to believe our economic cooperation still has much room to grow,” Xing said.
The fast improvement of infrastructure in a couple of years, the high-quality labor force, tax benefits, non-secured loans and other foreigner-friendly policies are plus factors as well, according to the ambassador.
Xing said that the South Korean enterprises “are more than welcome” to invest in the construction of new infrastructure, notably in four areas ― 5G wireless network, artificial intelligence, the Industrial Internet of Things (IIoT), and the IoT that can accelerate digitization, communication networks and intellectualization.
China currently runs 21 free trade zone and plans to build the Hainan Free Trade Port (Hainan FTP) on Hainan Island off the southern coast of China. “All these will provide bigger market access for South Korean companies,” Xing said.
He added that the talks on the second phase of the South Korea-China Free Trade Agreement (FTA) should be “finalized promptly” to bolster the exchange of services and investment.
The envoy viewed ratification of RCEP, a China-led mega trade bloc with 15 Asia-Pacific countries, as early as possible, together with the construction of free trade zones in South Korea, China and Japan, as a means to stimulate multilateral trade and global economic recovery.
In particular, Xing encouraged South Korean businesspeople to attend the 2021 China International Import Expo (CIIE) scheduled in November.
In relation to the campaign for its locally-developed vaccines, China, according to the Xing, is consulting with South Korea over whether to provide them for the 1 million Chinese citizens living here.
“Any decision of course will be with respect to the South Korean government's COVID-19 policy,” he said.