(SEOUL=NEWSIS) The Federation of Korean Industries (FKI) announced November 9 that the 2014 Korea-China CEO Roundtable was held November 8 in Beijing, China to discuss measures to strengthen bilateral economic cooperation and investment in accordance with the Korea-China FTA.

Business leaders of Korea and China focused their discussion on expanding bilateral cooperation from a manufacturing focus to include the service industry.

Korean business leaders requested that China invest more in Korea, and the Chinese economic community expects the Korea-China FTA to be an opportunity for China to increase its investment in Korea.

"The Korea-China FTA will provide opportunities to more sectors. Therefore, we will increase bilateral cooperation in the service industry, including finance, communications and culture,” stressed Chairman Park Sam Koo of Kumho Asiana Group.

The Korean economic community pointed out that China’s investment in Korea is only 10 percent of Korea’s investment in China and requested that China increase its investment in Korea.

"China’s investment in Korea is only 10 percent of Korea’s investment in China and Korea accounts for a mere 1 percent of China’s total foreign investment. China’s investment in Korea will increase when China regards Korea not as a country with a small domestic market but as a hub for world trade that has reached FTAs with the world’s largest economies, including the United States, China and EU,” emphasized Vice Chairman Lee Seung-chul of the FKI.

Business leaders of China showed interest in the Korea-China Economic Cooperation Complex in the Saemangeum area and said the Korea-China FTA will play a key role in increasing China’s investment in Korea.

The 2014 Korea-China CEO Roundtable was attended by 20 Korean business leaders, including Kumho Asiana Group Chairman Park Sam Koo, POSCO CEO Kwon Ohjoon, CEO Han Duck-soo of the Korea International Trade Association, Samsung Electronics Vice Chairman Kang Homoon, Hyundai Motor President Sung Kee Choi, Daishin Financial Group Chairman Lee Auh-Ryung and Sungjoo Group CEO Kim Sungjoo, and 10 Chinese business leaders, including Chairman Jiang Jianqing of the Industrial and Commercial Bank of China Limited, Hebei Iron & Steel Group Chairman Yu Yong and Beijing Automotive Group President Li Feng.

whan@newsis.com

Source Text

Source: Newsis (November. 09, 2014)

** This article was translated from the Korean.