Business leaders from South Korea and China came together Monday for a special forum aimed at establishing a network of cooperation between the two countries.
Hosted by the World Federation of Overseas Korean Traders Association (World OKTA), the two-day Korea-China Economic Forum drew about 200 people from both countries, including Korean-Chinese and Korean business leaders in China.
"It is our great pride and an important asset that the leading business people in China who continue to show remarkable growth are people of our nation, who share our language," Kim Woo-jae, the chairman of World OKTA, said in a congratulatory speech.
"We will continue to step up our efforts in establishing a strong network with our business people in China."
China is already South Korea's largest trading partner in the world with the country's exports to China topping US$134 billion last year. Imports from China to South Korea reached $80.78 billion in 2012, according to the Korea Customs Service.
Song Hyun-seung, the president of Yonhap News Agency, a co-sponsor of the forum, noted such a network will benefit both sides.
"I hope this forum will be more than just a venue for exchanges with our business leaders in China and become an opportunity to further develop an economic network of our business people from around the world and to establish a regional economic bloc in East Asia," he said.
Seoul and Beijing are moving to sign a bilateral free trade agreement with five rounds of negotiations already held.
Also present at the opening ceremony of the Seoul forum were Rep. Kim Tae-ho of the ruling Saenuri Party and Oh Young-ho, the head of the Korea Trade-Investment Promotion Agency.
The forum will end Tuesday following various sessions aimed at bringing the business leaders from the two countries closer and a special presentation to introduce investment opportunities in the country's various regions, such as the Gangwon and North Jeolla provinces.