Lee sees vast potential for Korea-China cooperation in emerging industries

President Lee Jae Myung and first lady Kim Hea Kyung stand alongside young members of the local Korean community during a meeting at a hotel in Beijing, Sunday. Yonhap

BEIJING — President Lee Jae Myung emphasized Sunday that there are “limitless areas for further industrial cooperation” between Korea and China, during a meeting with members of the Korean community living in Beijing. The gathering marked the first official engagement on his four-day state visit to China.

“China is now competing with us in the global market, but I believe there remain boundless opportunities for future cooperation, such as renewable energy, biotechnology and the silver industry, based on the comparative advantages of both countries,” Lee said.

The president noted that more than three decades have passed since Seoul and Beijing established diplomatic relations. Despite periods of strain, he said, the two nations have continued exchanges and cooperation, achieving remarkable growth in the process.

“It is often said that even mountains and rivers change in 10 years, and China has indeed undergone sweeping transformations and reforms,” Lee said. “Fintech technologies such as Alipay have become part of everyday life, and the adoption of electric vehicles has expanded dramatically through eco-friendly policies.”

Highlighting China’s rapid technological advancement, Lee observed that while the two neighboring countries now compete across various sectors, there remains significant room for mutually beneficial, win-win cooperation.

He also underscored China’s strategic importance in regional stability, describing Beijing as a key partner in efforts to secure peace on the Korean Peninsula.

“Moreover, China is an indispensable partner in moving toward peace and reunification on the Korean Peninsula,” he said.

Expressing hope for the future, Lee said he expects bilateral relations to move beyond past shortcomings, fully restore trust and serve as a new starting point for deeper and broader cooperation.

President Lee Jae Myung and first lady Kim Hea Kyung wave from the door of the presidential jet after landing in Beijing, Sunday. Yonhap

He noted that President Xi Jinping traveled to Korea last November — the first state visit by a Chinese leader in 11 years — and that Lee’s trip marks the first state visit to China by a Korean president in nine. The Korean leader emphasized that the exchange of state visits within just two months was without precedent.

“This reflects the shared and firm determination of both governments to normalize relations as swiftly as possible and advance toward a future-oriented partnership,” Lee said.

While acknowledging multiple diplomatic achievements to date, Lee also said that the full restoration of Korea-China relations, after a prolonged period of stagnation, stands out as the most significant accomplishment and a source of deep personal satisfaction.

Lee is scheduled to hold a summit with Xi on Monday, during which the two leaders are expected to discuss a wide range of issues and sign memorandums of understanding across several industrial sectors.