S. Korea's ties with China to expand more Lee says he hopes to create institutional foundation for economic cooperation

Lee Jaemyung

South Korean President Lee Jaemyung has said he is willing to work with President Xi Jinping to promote mutually beneficial cooperation between South Korea and China, improve the lives of the people of both countries, and create tangible results for them.

Lee made the remarks in a recent exclusive written interview with Xinhua News Agency.

At the invitation of the South Korean president, Xi is attending the 32nd Asia-Pacific Economic Cooperation Economic Leaders' Meeting in Gyeongju and paying a state visit to South Korea from Thursday to Saturday.

It will be the first meeting between the two heads of state since the new South Korean government took office. Therefore, this visit holds special significance for bilateral relations, Lee said.

Lee further said that Xi and he both started at the local government level, engaging with the people and implementing the philosophy that people's livelihood comes first, and that both eventually became national leaders.

Lee said he will work with Xi to continuously promote the development of the South Korea-China strategic cooperative partnership, amid dramatic changes in the internal and external environment since the two countries established diplomatic ties.

On his expectations for Xi's visit, Lee said he hopes to have in-depth discussions on specific plans to enhance practical cooperation to improve people's livelihoods, expand the consultation channels for bilateral economic and trade cooperation, accelerate discussions to make practical progress in the negotiations on the South Korea-China Free Trade Agreement to include services and investment, and create a new institutional foundation for economic and trade cooperation.

As major economies, South Korea and China are partners in promoting regional development and prosperity. At present, China remains South Korea's largest trading partner and a core partner for ensuring the stability of the supply chain, Lee said.

Since the establishment of diplomatic relations in 1992, the two countries have formed complementary industrial structures and supply chains and carried out close cooperation, he said, stressing that based on this, the two countries still maintain and continue to develop a firm trade and investment relationship despite the current uncertainties in the global economy.

Such vigorous economic and trade exchanges have injected impetus into the industries and economies of the Asia-Pacific region and even the world, he said.

The two countries should continue to enhance cooperation in industrial and supply chains, said Lee, adding that he looks forward to having in-depth discussions with Xi on a cooperation plan.

Lee said he also looks forward to strengthening cooperation in areas such as culture and the environment to enhance the quality of life of both peoples, and to continuing to expand people-to-people exchanges.

On maintaining peace and stability on the Korean Peninsula, Lee said he will work with China to strengthen strategic communication based on the consensus that peace and stability are in the common interest of both countries, and achieve denuclearization and peace on the peninsula.

On the issue of peace, Lee said that South Korea urgently needs China's constructive role in order to achieve a substantive solution to the Korean Peninsula nuclear issue and to build peace on the peninsula.

Noting that this year marks South Korea's return as the host of the APEC Economic Leaders' Meeting after two decades, Lee said that through this meeting, South Korea remains committed to cooperation among APEC member economies and promoting the implementation of various collaborative projects. This aims to achieve shared prosperity and development, transforming APEC into an effective and substantive platform for cooperation.

This year's agenda also includes tackling challenges such as fostering artificial intelligence innovation and managing demographic shifts, issues that extend beyond any single nation's capabilities, he said, adding that the best solutions emerge when all parties gather to share successful policies and explore diverse policy options.

This is precisely the kind of issue that exemplifies the spirit of multilateralism, he said.

Lee said he will closely consult with APEC members, including China, to make APEC a multilateral platform that not only explores trade and investment but also discusses future economic and trade issues, such as AI and demographic structures.

For China to successfully lead the APEC meeting next year, Lee said that South Korea will support China in continuously exploring and developing issues surrounding AI cooperation.

Xinhua