The 29th Korea-China Meeting for Comprehensive Review of Economic Cooperation is held on July 3 at the compound of the Ministry of Foreign Affairs in Seoul's Jongno-gu District. (Ministry of Foreign Affairs)

By Kang Gahui

The 29th Korea-China Meeting for Comprehensive Review of Economic Cooperation on July 3 discussed boosting bilateral economic ties through measures like raising mutual trade and investment, cooperation in supply chains and expansion of cultural exchange.

Held at the Ministry of Foreign Affairs compound in Seoul's Jongno-gu District, the talks were led by Kim Sunyoung, director-general of the ministry's Bilateral Economic Affairs Bureau, and Wang Liping, director general of Asian affairs at the Chinese Ministry of Commerce.

Both sides agreed that forming a stable and predictable business environment is the key to expanding mutual investment, pledging to strive to resolve corporate difficulties. Director-general Kim also urged stable management of supply chains through smooth and quick bilateral communication.

The two sides also agreed to promote tie-ups in emerging industries such as hydrogen power and artificial intelligence, joint entry into markets in third countries and stimulation of economic cooperation between local governments.

They pledged to continue collaboration in regional and multilateral groups such as the Asia-Pacific Economic Cooperation (APEC) and the World Trade Organization. China also agreed on working closely together for Korea's successful hosting of this year's APEC Summit in the second half of the year in Gyeongju, Gyeongsangbuk-do Province.

Launched in 1993, the annual consultative meeting at the director-general level is held between Korea's Ministry of Foreign Affairs and the Chinese Ministry of Commerce to review bilateral economic collaboration and discuss the direction of cooperation.

kgh89@korea.kr