As Asia-Pacific Economic Cooperation (APEC) members convene in the Republic of Korea (ROK) this week, the deepening economic partnership between China and the ROK has emerged as a cornerstone of regional stability and growth. With bilateral trade surpassing $270 billion in 2024, these two Asian powerhouses are reshaping supply chains and innovation pathways across industries.
Trade Surge Defies Global Headwinds
Data from the Republic of Korea Customs Agency reveals bilateral trade reached $272.91 billion in 2024, with ROK exports to China growing 6.6% to $133.04 billion. While Chinese exports to the ROK dipped slightly by 2.1%, strategic investments tell a more dynamic story: Chinese investment in the ROK skyrocketed 266.1% year-on-year to $5.78 billion, signaling confidence in cross-Yellow Sea collaboration.
From Semiconductors to Sustainable Tech
The partnership spans cutting-edge sectors, including semiconductor manufacturing, electric vehicle batteries, and smart technologies. ROK's cumulative $95.62 billion investment in China through 2024 underscores long-term industrial integration, while recent negotiations on the China-ROK Free Trade Agreement's second phase aim to unlock service trade and financial cooperation.
Leadership Voices Echo Cooperation
Chinese Premier Li Qiang emphasized mutual trust during May 2024 trilateral talks in Seoul, stating: "Our nations must champion shared progress as neighbors and partners." This sentiment resonates at APEC meetings, where members collectively account for nearly half of global trade.
As supply chains evolve, the China-ROK economic axis offers both a model for regional cooperation and a critical engine for APEC's vision of inclusive growth.
