Leading South Korean and Chinese business executives recently convened in Shanghai to explore enhanced cooperation within pivotal strategic industries. Key discussions at the influential forum focused on fostering stronger bilateral ties in high-growth sectors such as artificial intelligence (AI), semiconductors, and advanced batteries.
The third Korea-China Business Leaders Meeting, a significant event for bilateral economic relations, was jointly organized by the Korea Enterprises Federation (KEF) and the China International Council for the Promotion of Multinational Corporations (CICPMC). The gathering brought together approximately 50 top business executives and senior government officials from both nations, underscoring a shared commitment to economic collaboration.
Distinguished attendees included KEF Chair Sohn Kyung-shik, Bank of China Chairman Ge Haijiao, Shanghai Vice Mayor Lu Shan, and Kim Jin-dong, who serves as the economic minister at the South Korean Embassy in China.
In his opening address, KEF Chair Sohn Kyung-shik lauded the extraordinary progress in trade, investment, and industrial collaboration since the normalization of Korea-China relations in 1992. He highlighted the dramatic increase in bilateral trade volume, which has surged more than forty-fold from an initial $6.3 billion, demonstrating the robust economic partnership.
“These remarkable achievements are a testament to the efforts of Korean and Chinese businesses that have diligently cultivated a mutually complementary framework for economic cooperation,” Sohn affirmed.
He further cautioned the assembly about the escalating global economic uncertainties. These challenges include mounting geopolitical tensions, fluctuating oil prices, exchange rate volatility, rising consumer prices, alongside rapid industrial transformation driven by technological advancements and significant restructuring of global supply chains.
“Within this complex global environment, economic cooperation between Korean and Chinese enterprises has become more critical than ever,” Sohn emphasized. He articulated that collaboration in emerging sectors, including artificial intelligence, semiconductor technology, battery development, future mobility solutions, biotechnology, and eco-friendly industries, holds immense potential to unlock fresh growth opportunities for companies across both countries.
Sohn urged both governments to actively review and improve existing regulations that may impede corporate investment and business operations. He noted that leading global economies are increasingly implementing strong policy support for their strategic industries and key enterprises.
Co-chair Ge Haijiao, representing China at the forum, expressed his satisfaction with the gathering of business leaders in Shanghai, which he proudly described as “a core hub” for Korea-China bilateral economic cooperation.
“The evolution of Korea-China economic cooperation has moved beyond simple division of labor to encompass broader and deeper collaboration, significantly contributing to both regional stability and the global economy,” Ge stated. He added, “Through this crucial meeting, we aim to identify new growth drivers and innovative cooperation models for our two nations.”
Throughout the meeting, business representatives engaged in productive discussions aimed at broadening investment opportunities, enhancing favorable business conditions, and providing robust support for companies operating in both South Korea and China.
The Korean business delegation is also slated to meet with Shanghai Mayor Gong Zheng on Friday. This high-level discussion will focus on future-oriented economic cooperation strategies and will include the presentation of key policy suggestions from Korean companies actively operating in the Chinese market.
Prominent Korean participants included 19 major corporations such as Samsung Electronics, Hyundai Motor Group, SK Group, LG Chem, and Korean Air. Chinese participants featured leading entities like Bank of China, CATL, Bank of Communications, alongside other key companies from the finance, manufacturing, logistics, and renewable energy sectors.
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