According to Yonhap news agency, the two sides reached the aforementioned agreement after a meeting between South Korean Minister of Trade, Industry and Energy Kim Jung Kwan and Chinese Minister of Commerce Wang Wentao in Beijing on December 12. This meeting marked the first visit by a South Korean Industry Minister to China since 2018.
According to a statement from South Korea's Ministry of Trade, Industry and Energy, the meeting between the two ministers was held to discuss the next steps following the summit between South Korean President Lee Jae-myung and Chinese President Xi Jinping on the sidelines of the 32nd Asia- Pacific Economic Cooperation (APEC) Summit in Gyeongju, South Korea, on November 1st.
Minister Kim Jung Kwan and Minister Wang Wentao both agreed that strengthening bilateral cooperation would bring tangible benefits and contribute to improving the lives of people in both South Korea and China.
The two ministers also noted that bilateral trade has not yet seen significant growth after reaching a record high of $310.4 billion in 2022, and agreed to work together to expand trade and promote mutual investment.
In addition, both sides decided to hold regular discussions at the ministerial level, utilizing both bilateral and multilateral mechanisms, in order to more effectively address economic and trade issues.
Source: https://vtv.vn/trung-quoc-han-quoc-tiep-tiep-dam-phan-thuong-mai-khoang-san-dat-hiem-100251212161822895.htm
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