China, South Korea Vow to Deepen Economic Ties, Speed Up Trade Talks
Chinese leader Xi Jinping and South Korean President Lee Jae Myung met for talks aimed at shoring up their countries’ economic and diplomatic ties, with both sides pledging to deepen cooperation despite underlying geopolitical frictions.
In his first state visit to South Korea in 11 years, Xi called for the two nations to consolidate mutual trust and properly handle disagreements, signaling a push to stabilize a relationship that has been tested by regional security concerns and supply-chain pressures.
“Facts have proved that promoting the sound and steady development of China-ROK relations is always a right choice that serves the fundamental interests of the two peoples,” Xi said, according to a statement released by the Chinese foreign ministry following the talks held Friday in the historic city of Gyeongju.
Xi laid out a four-point proposal for the relationship, urging stronger strategic communication, deeper economic integration, improved people-to-people ties, and enhanced coordination on the world stage.
On the economic front, he called for accelerating the second phase of negotiations on the China-South Korea free-trade agreement and for tapping the potential for cooperation in emerging fields such as artificial intelligence, biomedicine, and green industries.
In a specific call for security cooperation, Xi proposed that the two countries strengthen their joint efforts to combat online gambling and telecom fraud at both bilateral and regional levels.
According to Beijing’s readout of the meeting, Lee welcomed Xi and described China as an “inseparable partner,” adding that Seoul stands ready to advance friendly relations. Lee was quoted as saying South Korea seeks to enhance mutually beneficial cooperation with China and keep industrial and supply chains stable.
The meeting comes as South Korea, a key U.S. ally, navigates a complex geopolitical landscape, balancing its security relationship with Washington and its deep economic interdependence with Beijing. Xi’s statement made reference to these dynamics, calling on both sides to “respect each other’s social systems and development paths” and “accommodate each other’s core interests and major concerns.”
The two leaders jointly witnessed the signing of more than 10 cooperation documents covering areas including trade, finance, agriculture, law enforcement, and science and technology.
Xi also used the meeting to promote China’s economic agenda, noting that the country’s upcoming 15th Five-Year Plan would create new opportunities. He stated that China would remain steadfast in “expanding high-standard opening up” and share opportunities with the world.
caixinglobal.com is the English-language online news portal of Chinese financial and business news media group Caixin. Global Neighbours is authorized to reprint this article.
Image: SHUTTER DIN – stock.adobe.com