Speeding Up Institutionalization of 'Fast Track' for Korea-China Businesspeople Entry, Possible Introduction as Early as May

Final Stage of Detailed Korea-China Government Consultations... Xing Haiming, Chinese Ambassador to Korea, "Expect Announcement of Consultation Items This Week"
Delivered Keynote Speech at First Corporate Event Since Appointment
Also Held Meeting with Kim Gun, Deputy Minister of Foreign Affairs, Regarding 'Fast Track'

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] As intergovernmental talks accelerate to introduce a 'fast-track' system allowing businesspeople to enter between South Korea and China, the system is expected to be implemented as early as May. If introduced in May, it will be the first case of institutionally permitting exceptions for businesspeople's entry since the COVID-19 crisis. On the 28th, Xing Haiming, the Chinese Ambassador to South Korea, who attended a roundtable hosted by the Federation of Korean Industries (FKI), also supported the possibility of a swift introduction, stating, "We have agreed on the fast-track system guaranteeing the entry of businesspeople from both countries and will soon announce detailed consultation results."

Ambassador Xing said in response to reporters' questions immediately after a breakfast meeting held at the FKI building in Yeouido, Seoul, on the theme of "China's government stimulus measures in response to COVID-19 and difficulties faced by companies entering China," "We have agreed on the principles and are finalizing the details," adding, "I hope the announcement will come out this week."

Earlier, domestic business representatives requested the easing of China's entry restrictions on businesspeople as the most necessary measure amid the COVID-19 situation. Kwon Tae-shin, Vice Chairman of the FKI, requested, "We hope that exceptions for businesspeople whose entry is essential for business, under the conditions of no infection history and compliance with COVID-19 testing before and after entry, will be proactively considered."

Ambassador Xing also met with Deputy Minister Kim Geon at the Ministry of Foreign Affairs building the previous day and held an intensive 40-minute discussion regarding the introduction of the businesspeople entry fast-track, i.e., the expedited passage system. In an interview with the media, Ambassador Xing said, "We will strive to implement it within May," and added, "It seems we will reach an agreement on the fast-track system soon."

The Chinese Embassy in South Korea also showed prompt action by quickly informing about the meeting results between Deputy Minister Kim and Ambassador Xing. The embassy emphasized, "The sooner the system is implemented, the sooner its effects can be realized," and stated, "The plan was recently agreed upon in principle between the deputy foreign ministers of both countries, and we expect full implementation soon."

Once the fast-track system is implemented, the severely restricted exchanges due to the COVID-19 crisis are expected to open up. Among foreigners who entered South Korea in the first quarter, Chinese nationals accounted for 644,109, making up 30% of the total; however, in March, when entry restrictions were fully enforced, only 17,393 Chinese entered. The total number of foreign entrants in March dropped by more than 94% compared to March of the previous year. There is also interest in whether the fast-track system case between South Korea and China could expand to countries such as Vietnam, India, and Indonesia. A Ministry of Foreign Affairs official explained, "We are conducting related discussions through various diplomatic channels with major countries, including China, with which exchanges have been active."

The businesspeople entry fast-track between South Korea and China began to be actively discussed during a video conference between deputy foreign ministers on the 17th. At that time, Cho Se-young, First Vice Minister of Foreign Affairs, held a video meeting with Luo Yucheng, Deputy Minister of the Chinese Ministry of Foreign Affairs, and agreed to establish a simplified entry procedure system for businesspeople to guarantee essential economic activities. Since then, working-level officials from both countries have been negotiating to prepare detailed matters.

[Image source=Yonhap News]

This content was produced with the assistance of AI translation services.