Invest KOREA

“The free trade agreement (FTA) between Korea and China will improve the quality of cooperation between Korean and Chinese companies in new sectors including services, culture and finance,” said KOTRA CEO Jaehong Kim on February 3.

Kim held a meeting at KOTRA headquarters with a Chinese economic delegation of 20 business leaders led by Chairman Jiang Zengwei of the China Council for the Promotion of International Trade (CCPIT).

"Since the establishment of diplomatic ties between Korea and China in 1992, our bilateral trade has increased 36-fold, from USD 6.4 billion (KRW 7.19 trillion) to USD 235.3 billion, and investment between the two countries grew by 128 times, from USD 370 million to USD 47.4 billion. In this regard, we have achieved a great deal, both quality- and quantity-wise," evaluated Kim.

"Not only do KOTRA and the CCPIT have similar roles, but the two agencies also have a long history of exchanges. I hope the two agencies will cooperate more closely in the era of the Korea-China FTA," replied Jiang.

The CCPIT, which has 50 local offices and 17 overseas offices, is the leading institution for the promotion of trade and investment in China. It holds EXPOs and provides corporate support, including investment and market research. The Chinese delegation is currently visiting Korea to enhance cooperation with Korea’s major economic organizations and companies.