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Jan. 5 (Asia Today) — South Korean President Lee Jae-myung told business leaders in Beijing on Monday that Seoul and Beijing should pursue cooperation grounded in pragmatism, noting bilateral trade has stagnated around $300 billion and calling for efforts to open new markets.
Lee made the remarks at the Korea-China Business Forum, held at the Diaoyutai State Guesthouse, where he cited what he called the “Wall-of-Bamboo Spirit” as a guiding approach for the two countries.
Lee said economic exchanges should continue despite complicated circumstances between the two countries, including U.S.-China tensions, the South Korea-U.S. alliance and trilateral cooperation among South Korea, the United States and Japan.
He outlined two main pillars for cooperation: innovation in manufacturing centered on artificial intelligence and expanded cultural exchange.
Lee said potential breakthroughs include consumer goods such as daily necessities, beauty products and food as well as cultural content including movies, music, games and sports, comments widely seen as a renewed call to ease restrictions on Korean cultural content in China.
China’s Vice Premier He Lifeng, representing the Chinese government, also urged cooperation, saying the international situation is becoming more complex and that the two countries should maintain a healthy and stable trade relationship to achieve mutual benefit.
He said China would continue efforts toward high-level opening, improving the business environment and enhancing what he described as qualitative productivity.
The forum was held for the first time in nine years and drew more than 600 participants, including 416 representatives from 161 South Korean companies and about 200 from the Chinese side, according to organizers.
Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group chairman, delivered opening remarks and greeted attendees in Chinese, saying the forum was being held for the first time since 2017.
Hyundai Motor Group Chairman Chung Eui-sun told reporters that sales and production in China have fallen sharply but said the company plans to expand production and sales in China, adding that improved bilateral relations would benefit Hyundai.
— Reported by Asia Today; translated by UPI
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