Chairman Sohn Kyung-shik: "Korea-China Industry Communication Must Be Strengthened... Exchanges Will Be Regularized"

Next Year, Korea-China Business Leaders Meeting to be Held in Seoul

Son Kyung-sik, Chairman of the Korea Employers Federation (KEF), stated on the 19th that communication between Korean and Chinese industries must be continuously strengthened. He explained that demand for exchanges with Korean companies is also increasing amid the recent withdrawal of American companies from their businesses in China.

Chairman Son made these remarks during a meeting with Beijing correspondents ahead of the '1st Korea-China Business Leaders Meeting' held by the China International Council for the Promotion of Multinational Corporations (CICPMC) at the China International Hotel in Beijing. This was the first face-to-face exchange event for business leaders from both Korea and China since the spread of COVID-19. Although Son visited Beijing last November and met with Shang Fulin, Vice Chairman of CICPMC, to discuss strengthening Korea-China economic cooperation, no businesspeople were present at that time.

Son Kyung-sik, Chairman of the Korea Employers Federation (KEF) (seventh from the left in the front row), is taking a commemorative photo on the 19th at the Beijing China International Hotel ahead of the '1st Korea-China Business Leaders Meeting' with the China International Council for the Promotion of Multinational Corporations (CICPMC). Photo by Kim Hyun-jung, Special Correspondent.

Regarding the opportunity to facilitate exchanges between the two countries, he said, "It is necessary to communicate well with each other to help businesses prosper," adding, "We need to strengthen communication in various areas, including manufacturers of finished goods and companies focused on semi-finished products." He further stated, "We will regularize such exchange opportunities," and "Next year, the meeting will be held in Seoul."

On the interests that the Chinese side might have following this exchange, he emphasized, "They hope to conduct many transactions in various areas," and added, "Especially considering the recent withdrawal of American companies, they likely want to expand exchanges with nearby Korea." Regarding exchanges between the two countries, he added, "We should first engage with neighboring countries."

In response to concerns that the level of Chinese participants might have declined compared to previous Korea-China business exchange events, he explained, "Communication is important for working together, not the status," and added, "Officials from Beijing city are attending, and tomorrow morning, we will meet with the Beijing Party Secretary."

On the Korean side, representatives from Korean companies operating in China attended the event, including Yang Geol, President of Samsung China; Yoon Do-sun, CEO of CJ China; Shin Hyun-woo, President of Hanwha; Kim Young-beom, CEO of Kolon; Choi Hyun-kyu, CEO of Korea Kolmar; and Park Yo-han, Head of Korean Air’s China division. From the embassy, Ambassador Jeong Jae-ho and Economic Counselor Yoo Bok-geun were present.

On the Chinese side, attendees included Liu Jin, President of the Bank of China; Shang Fulin, Vice Chairman of CICPMC; Le Feng, Deputy General Manager of China Yiqi Automobile Group; and Lin Xiaodong, Vice President of ZTE Communications. Yin Yong, Mayor of Beijing, who was originally scheduled to attend, did not appear; instead, Beijing Vice Mayor Shi Mahong accompanied the event and delivered a congratulatory speech.