KITA News and Reports
  • KITA Held Korea-China Business Forum in Beijing

    KITA Held Korea-China Business Forum in Beijing


    -    180 business people from Korea and China came together and actively discussed cooperation plans for the future -



    Despite the strained situation around THAD issues, there was an opportunity for business people from Korea and China to come together and discuss the ways to jointly cooperate for the new industries in the future upon the 25th anniversary of the Korea-China diplomatic relations. 



    The Korea International Trade Association (Chairman, Kim In-ho) held the "Korea-China Business Forum to Mark the 25th Anniversary of the Korea-China Diplomatic Relations" in Beijing on August 24, Thursday. The forum, sponsored by the Korean Embassy in China, the Korea Institute for International Economic Policy, and China’s International Business Daily, attracted the participation of some 180 business people from both countries. During the forum, the participants evaluated the achievements of bilateral economic cooperation between the two countries over the past 25 years, and actively discussed the cooperation plans for the future industries, including artificial intelligence, big data and bio.



    Choi Yong-min, head of the Analysis and Forecasting Department at the Korea International Trade Association, delivered a presentation titled "The Achievements and Challenges of 25 Years of Korea-China Economic Cooperation’. He evaluated that the bilateral economic cooperation has greatly contributed to the two countries’ economic development as well as job creation as Korea is securing the largest market share of China’s import market and is the number one investor in China (except for the Chinese residing abroad). In addition, he emphasized that it is necessary to strengthen cooperation in the fourth industrial revolution and service sector in the future.


    Guo Chaoxian, who made a presentation on the topic of the 'Cooperation Scheme for New Industries of the Future', suggested six directions of cooperation: focus on new industries, cooperation in industry, cooperation in R & D, service cooperation, bilateral investment in Korea and China, and Korea-China joint investment in third countries. He also stated that in the trend of globalization and informatization, China needs to expand industrial cooperation with manufacturing powers such as Korea.


    Afterwards, the experts from the two countries had discussions on the cooperation between the two countries and the new industries. Vice President Li xinming of SK China reviewed the friendship enhancement and economic exchanges between SK and China. Professor Jeong Hong-sik of Tsinghua University and Hu Wenwen, head of the Guiyang Big Data Exchange, shared their opinions on the cooperation possibilities in an artificial intelligent chip field and big data exchange area, respectively. In addition, Yu guoyou, head of Jingdong, said that One Belt One Road policy will be a great opportunity for e-commerce companies and the future e-commerce market will be competitive in terms of quality, brand and service beyond the era of size-based incentives.



    Kim Geuk-soo, head of KITA's International Affairs Group, said "With globalization and the fourth industrial revolution, both countries are facing new challenges that they have never experienced before.” Mr. Kim added "I am looking forward to seeing that the Korea-China cooperative relationship will create more upgraded achievements compared to the last 25 years by making sure to realize the ideas for the new industries presented in this forum.

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