Chairman Son Kyung-sik: "We Must Expand the Korea-China Fast Track"... Chinese Ambassador: "We Will Increase from Korea First"

19th 'Meeting with Korea Employers Federation Chairpersons Invited by Chinese Ambassador to Korea'
Korea Employers Federation Chairpersons Meet with Xing Haiming, Chinese Ambassador to Korea

Chairman Sohn Kyung-shik of the Korea Employers Federation is guiding Ambassador Xing Haiming to his seat at the Korea Employers Federation Chairman's Meeting hosted by the Chinese Ambassador to Korea, held on the 19th at the Western Chosun Hotel in Jung-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

[Asia Economy reporters Ki-min Lee and Ji-hee Kim] Sohn Kyung-shik, chairman of the Korea Employers Federation (KEF), met with Xing Haiming, the Chinese Ambassador to Korea, to propose expanding the fast track system for businesspeople and normalizing air travel between Korea and China.

On the 19th, KEF held a "KEF Chairman Group Meeting with the Chinese Ambassador to Korea" at the Westin Chosun Hotel in Jung-gu, Seoul, to discuss bilateral economic cooperation measures to overcome the economic crisis caused by the novel coronavirus disease (COVID-19). The meeting was attended by Chairman Sohn, Senior Vice Chairman Kim Yong-geun, and other KEF executives, along with Ambassador Xing Haiming and Economic Counselor Guo Jinsheng from the Chinese side.

In his greeting, Chairman Sohn said, "Due to the unexpected spread of COVID-19, the movement of personnel and logistics between the two countries has been restricted, and disruptions in the international supply chain operations have caused many companies to worry about the prolonged economic crisis." He added, "We hope that the fast track system for businesspeople, currently implemented only in some regions, will be further expanded so that our companies can quickly normalize operations in China." He explained, "About 28,000 Korean companies have entered China. Especially since China holds a significant share in the international supply chains of key Korean industries such as automobiles and semiconductors, the free movement of businesspeople between the two countries must be guaranteed."

Chairman Sohn also requested the resumption of air travel between Korea and China. He said, "Manufacturers with production facilities in China are facing difficulties in personnel and logistics movement and raw material supply," and added, "We hope that air travel between Korea and China will resume based on reliable quarantine systems in both countries."

Furthermore, he asked for support to allow Korean companies to participate in infrastructure construction in advanced technology fields such as 5G and artificial intelligence (AI), which the Chinese government is currently promoting. Chairman Sohn requested, "We hope that policy support such as tax benefits and incentives will be actively provided to Korean companies seeking to enter various industries including advanced technology, bio, gaming, and culture, in addition to traditional manufacturing."

Chairman Sohn Kyung-shik of the Korea Employers Federation (second from left) and Ambassador Xing Haiming of China to Korea are conversing at the Korea Employers Federation Chairman Group Meeting hosted by the Chinese Ambassador to Korea, held on the 19th at the Western Chosun Hotel in Jung-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

In response, Ambassador Xing Haiming said, "The two countries have presented a successful international cooperation model through mutual cooperation in responding to COVID-19," and expressed hope for "the continuous development of bilateral relations and the active entry of Korean companies into China."

Regarding the fast track system, he conveyed the intention to expand it first with Korea. Ambassador Xing said, "It is true that many Korean companies have not been able to use this system due to quarantine measures and a shortage of flights," and added, "We are trying to increase flights with Korea from the current 14 per week to more than 20 per week."

Finally, he emphasized, "China will take active measures such as improving regulations and strengthening support to help foreign-invested companies resume production and expand business activities and investments in a fair environment," and added, "Local governments are also preparing new investment attraction policies, so we hope Korean companies will take advantage of these opportunities."

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