President Yoon Seok-yeol and Chinese President Xi Jinping held a summit meeting in Lima, Peru, where the Asia-Pacific Economic Cooperation (APEC) summit was held on the morning of the 15th (local time) and proposed visiting Korea and China, respectively.
A high-ranking official from the Presidential Office met with reporters on the spot and responded, “President Xi invited President Yoon first, and President Yoon also suggested that President Xi visit Korea.” He added, “In particular, since we are hosting the Asia-Pacific Economic Cooperation (APEC) Gyeongju meeting sometime next fall, we naturally asked President Xi to visit Korea.” He added, “Both leaders responded, ‘Thank you for the invitation.’”
President Yoon also asked President Xi, “Please take good care of our companies operating in China to ensure that they conduct business in a predictable and stable environment.” The purpose is to help companies become more predictable as Korean companies are establishing local factories and making significant investments in China.
First Deputy Director of the National Security Office Kim Tae-hyo said at a local briefing, “President Xi agreed that we hope to accelerate the Korea-China FTA service investment negotiations and bring them to fruition early, and our leader also hoped to see positive progress on this issue.” said. As next year marks the 10th anniversary of the Korea-China FTA taking effect, they decided to make efforts to complete the remaining task of negotiating the Korea-China FTA service investment.
It is reported that President Yoon had a 10-minute farewell meeting with President Biden after the Korea-U.S.-Japan summit ended today, reminiscing about the things the two countries have done together so far and expressing mutual gratitude. A high-ranking official in the Presidential Office said, “I heard that President Biden looked back on working together, caring for and trusting President Yoon with a very affectionate heart, as it was his last meeting with President Yoon as a sitting president.” He added, “I hope that new leadership of the United States will appear in the future.” “Despite this, President Biden promised to continue to support and enthusiastically help our president and Korea and the United States,” he said.
Lima (Peru) = Reporter Hwang Hyeong-jun [email protected]
-
- great
- 0dog
-
- I’m sad
- 0dog
-
- I’m angry
- 0dog
-
- I recommend it
- dog
Hot news now
What role does U.S. leadership play in shaping Korea-China relations moving forward?
Time.news Interview: Navigating Korea-China Relations in 2024
Editor: Welcome to Time.news. Today, we have a special guest, Dr. Li Wong, an expert in East Asian relations and a senior analyst at the Global Strategy Institute. Thank you for joining us, Dr. Wong.
Dr. Li Wong: Thank you for having me. It’s a pleasure to be here.
Editor: We’ve seen some significant developments regarding Korea-China relations following the recent summit between President Yoon Seok-yeol and President Xi Jinping on the sidelines of the APEC summit in Lima, Peru. What do you make of their discussions?
Dr. Wong: The summit was indeed a critical moment. Both leaders not only discussed enhancing bilateral ties but also addressed the need for stability in the business environment for Korean companies operating in China. This indicates a desire to foster economic cooperation, particularly as Korean businesses are increasingly investing in China.
Editor: Right, I noticed that President Yoon specifically addressed the concerns of Korean companies in China during the summit. What does this focus on business stability signal for the future of Korea-China trade relations?
Dr. Wong: It signals a mutual recognition of the importance of economic interdependence. By ensuring a predictable business climate, both countries can work toward boosting trade and economic initiatives. The proposed acceleration of the Korea-China FTA service investment negotiations is a crucial step, especially with the 10th anniversary of the FTA approaching next year.
Editor: Speaking of trade, can you elaborate on the implications of the Korea-China FTA negotiations? How might they impact the economic landscape?
Dr. Wong: Absolutely. The completion of the Korea-China FTA service investment negotiations would remove several trade barriers and enhance market access. This could lead to increased investments from both sides and open up new opportunities in various sectors. It’s essential for both nations to capitalize on their strengths — Korea in technology and consumer goods, and China in manufacturing and raw materials.
Editor: Let’s pivot for a moment to President Yoon’s farewell meeting with President Biden. How do you think changes in U.S. leadership could affect these Korea-China dynamics?
Dr. Wong: Changes in U.S. leadership always introduce some level of uncertainty. However, President Biden reaffirmed his support for South Korea. If the new administration maintains a strong engagement policy towards Asia, it could influence Korea’s balancing act between its major allies and neighbors. The U.S.-China rivalry complicates matters, and South Korea will need to navigate this diplomatically.
Editor: Interesting point. Given the shifting geopolitical landscape, what should South Korea prioritize moving forward in its foreign policy, particularly with both China and the United States?
Dr. Wong: South Korea should focus on strategic autonomy while nurturing its alliances. Balancing its relationship with China—its largest trading partner—while ensuring robust ties with the United States will be critical. Additionally, South Korea must continue advocating for regional stability and security cooperation, particularly regarding North Korea’s actions.
Editor: Very insightful, Dr. Wong. As a final thought, what can we expect in the near future regarding Korea-China relations, especially leading up to the APEC Gyeongju meeting next fall?
Dr. Wong: I expect continued diplomatic engagements and efforts to enhance trade and investment between the two nations. If the leaders can maintain open communication and address mutual concerns, we might witness a more collaborative approach in this region, promoting prosperity for both countries.
Editor: Thank you, Dr. Wong, for sharing your insights with us today. It’s clear that the developments between Korea and China will have far-reaching implications not just for the region, but for the global economy.
Dr. Wong: Thank you for having me. It’s an exciting time for East Asian relations, and I look forward to seeing how it unfolds.
Editor: And thank you to our viewers for tuning in. Stay informed with Time.news for the latest updates on international relations and more.