Ministry of Commerce: the bilateral trade volume between China and South Korea has exceeded 360 billion US dollars

This year marks the 30th anniversary of the establishment of diplomatic relations between China and South Korea. Shu Jue Ting, spokesman of the Ministry of Commerce, said that China and South Korea are permanent neighbors and inseparable partners. With the joint efforts of both sides, the economic and trade relations between the two countries have developed rapidly and have become important economic and trade partners to each other. Data show that the bilateral trade volume between China and South Korea has exceeded 360 billion US dollars, and the cumulative two-way investment has exceeded 100 billion US dollars. The two sides have effectively connected development strategies, successfully implemented the China ROK free trade agreement, steadily promoted the cooperation in jointly building China ROK industrial parks, and continued to deepen third-party market cooperation, forming a deeply integrated, stable and smooth industrial chain supply chain system. China and the Republic of Korea are both members of the regional comprehensive economic partnership agreement, which came into force at the beginning of this year, providing broader space for the two countries to further deepen economic, trade and investment cooperation. Shu jueteng said that China is willing to work with the ROK to take the 30th anniversary of the establishment of diplomatic relations as an opportunity to implement the important consensus of the leaders of the two countries, implement the joint plan for China ROK economic and trade cooperation (2021-2025), further deepen trade and investment cooperation, actively expand cooperation in new fields, implement the RCEP agreement with high quality, promote the construction of RCEP mechanism, jointly support trade liberalization and economic globalization, and better benefit the two countries and two peoples.