Chinese Ambassador to Korea: "Next Month's CCP Congress Blueprint Includes Joint Prosperity Plan with Korea"

Martial Arts, 30 Years of Korea-China Diplomatic Relations Forum Held
Ambassador Xing Haiming: "Strengthening Supply Chain Cooperation"

Koo Ja-yeol, Chairman of the Korea International Trade Association, delivering the opening address at the "Korea-China Joint Prosperity Forum" commemorating the 30th anniversary of diplomatic relations between Korea and China. (Photo by Korea International Trade Association)

[Asia Economy Reporter Moon Chaeseok] Xing Haiming, the Chinese Ambassador to Korea, stated that "the plan for joint prosperity with Korea is included in the new development blueprint of China to be presented at the 20th National Congress of the Communist Party of China next month," and proposed strengthening supply chain cooperation between the two countries.

According to the Korea International Trade Association (KITA) on the 30th, Ambassador Xing made these remarks at the "Korea-China Joint Prosperity Forum" held by KITA to commemorate the 30th anniversary of Korea-China diplomatic relations. The forum was held the previous day at the Ambassador Seoul Pullman Hotel in Jangchung-dong, Seoul. About 200 government and business officials from both countries attended, including Ambassador Xing, KITA Chairman Koo Ja-yeol, and Korean Ambassador to China Jung Jae-ho.

Ambassador Xing said, "Over the 30 years since the establishment of diplomatic relations between Korea and China, the two countries have achieved remarkable growth in politics, economy, and culture," and added, "The new development blueprint of China to be discussed at the 20th Party Congress next month also includes plans for joint prosperity with Korea."

Chairman Koo emphasized in his opening remarks, "To achieve joint prosperity between Korea and China, supply chain cooperation must be strengthened," and stressed, "We need to establish a 'Korea-China corporate supply chain information platform' to ensure stable procurement of raw materials and parts that both countries need."

He also proposed restoring regular flights between the two countries to expand cooperation in cultural content and human exchanges, and suggested forming a "Korea-China Young Entrepreneurs Exchange Association" for young entrepreneurs from both countries to communicate.

In the following session, Jeon Byung-seo, Director of the China Economic and Financial Research Institute, and Cheng Lu, Vice Chairman of the China Federation of Industry and Commerce, spoke as presenters on ways to strengthen cooperation between Korea and China.

Director Jeon advised, "The world is currently in an era of 'one globe, two systems' with the China-led Regional Comprehensive Economic Partnership (RCEP) and the US-led Indo-Pacific Economic Framework (IPEF) coexisting," and added, "We must prepare for the new order based on Korea-China supply chain cooperation."

Meanwhile, KITA signed a Memorandum of Understanding (MOU) with the China Asia Economic Development Association to expand economic cooperation and exchanges, agreeing to collaborate on joint seminars and forums, corporate investment support services, and information provision.