Korean media: China and South Korea business circles will hold a banquet, South Korean companies are increasing cooperation with China

On the 29th, according to reports from the South Korean business community, on the last day of the APEC Summit, which is on the 1st of next month, Chinese and South Korean entrepreneurs will hold a banquet. South Korean businessmen attending the banquet include Lee Jae-yong, Chairman of Samsung Electronics, Choi Tae-kyun, Chairman of SK Group, Chung Eui-sung, Chairman of Hyundai Motor Group, Go Kun-mo, Chairman of LG Group, and Jang In-ho, Chairman of Pohang Steel Holdings.

It is expected that major business figures from China, including the chairman of the world's largest battery company, Contemporary Amperex Technology Co., Limited (CATL), the chairman of the state-owned energy and chemical enterprise Sinochem Group, and the founder of the e-commerce platform JD.com, will attend. A business person who requested anonymity said, "The final list of participants is currently being coordinated, and due to the involvement of diplomatic issues, the schedule itself is uncertain."

On the 28th, Xinhua News Agency published an article titled "China and South Korea Are Indispensable Neighbors." It pointed out, "Since the establishment of diplomatic relations in 1992, China-South Korea trade has grown more than 60 times, and China has been the largest trading partner of South Korea for 21 consecutive years, while South Korea is the second-largest trading partner of China." It also stated, "The two countries are accelerating the negotiations for the second phase of the Free Trade Agreement (FTA) and are jointly creating a new situation of mutual benefit and win-win cooperation in emerging fields such as high-end manufacturing, biomedicine, and artificial intelligence (AI)." The report also emphasized, "Regardless of how the international situation changes, China and South Korea should adhere to their original intentions of establishing diplomatic relations, firmly walk the path of friendly neighborhood, and maintain the goal of mutual benefit and win-win cooperation."

In fact, South Korean companies have recently also increased their cooperation with China. Previously, during Chairman Lee Jae-yong's visit to China this March, discussions were held with Xiaomi regarding automotive electronics business cooperation, and a parts supply cooperation was reached with BYD, the world's largest electric vehicle company. LG Electronics has cooperated with a Chinese mid-sized enterprise, Changhong, to export low-cost refrigerators and washing machines to Europe. Hyundai Motor maintains cooperative relationships with CATL, BYD, and CALB, a Chinese power battery company. A financial sector figure said, "Although sensitive issues may be difficult to touch in the short term, this banquet may serve as a 'signal flare' for easing tensions and rebuilding the cooperation framework for mutual benefit."

Source: JoongAng Daily

Original: www.toutiao.com/article/1847394679391232/

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