Chinese Commerce Minister Wang Wentao and Kim Jung-kwan, South Korea's Minister of Trade, Industry and Energy, pledged to bolster industrial cooperation during high-stakes talks in Gyeongju this weekend. The meeting focused on stabilizing cross-border supply chains amid global economic uncertainties while advancing bilateral trade frameworks.
Building Economic Resilience
Wang emphasized leveraging existing mechanisms like the China-ROK industrial chain hotline and export control dialogues to ensure 'unimpeded flow' of critical materials. Both ministers agreed to accelerate negotiations for the second phase of the China-ROK Free Trade Agreement, initially signed in 2015.
Multilateral Cooperation Push
The discussions highlighted commitments to multilateral platforms including the World Trade Organization and Regional Comprehensive Economic Partnership (RCEP). Wang called for renewed efforts to restart trilateral FTA talks with Japan, while Kim described China as 'an indispensable partner' in regional economic stability.
Local-Level Synergies
Plans to deepen city-to-city and provincial economic partnerships emerged as a key strategy, with both nations aiming to create resilient manufacturing networks across East Asia. The dialogue concluded with mutual support for maintaining open markets and opposing protectionist measures.
