With the 20th anniversary of the establishment of diplomatic relations coming up in 2012, Korea and China are looking to collaborate on industrial partnerships.
"Korea and China need to join forces in advancing strategic partnerships, deepening investment and trade ties and adapting to changes in the industrial environment," Minister of Knowledge Economy Choi Joong-Kyung remarked earlier this month at a meeting organized to promote investment partnerships.
The meeting, which took place during Minister Choi's first trip to Beijing since he assumed office in January, followed private meetings with senior Chinese officials including Minister of Commerce Chen Deming. The two ministers discussed a possible free trade agreement between the two countries and signed a memorandum of understanding to diversify the scope of bilateral economic cooperation.
Requests from the Chinese side included efforts to forge closer partnerships in the service sector and build an industrial complex. MKE also held an investor relations session that focused on promising projects in which many Chinese investors have expressed interest: tourism, regional development, cultural content, finance and renewable energy. Minister Choi encouraged the Chinese investors to take advantage of the newly established "China Desk" in Beijing.
