Discussion on 'Korea-China Future' at the National Assembly: "An Era of Competition Over Cooperation"

The National Assembly World Korean Economic Forum to Hold Seminar on the "New 30-Year Future of Korea-China Relations" on the 23rd

Foreign Minister Park Jin is holding talks with Wang Yi, State Councilor and Foreign Minister of China, on the 9th at the Jimu District Jimu Goseong Gunran Hotel in Qingdao, China. (Photo by Yonhap News)

[Asia Economy Reporters Kum Boryeong, Kwon Hyunji] On the occasion of the 30th anniversary of Korea-China diplomatic relations, experts have voiced that the competitive dynamic with China is growing rather than cooperation, and that utilizing financial big data is necessary to target the Chinese market.

At the seminar titled "Opening a New 30 Years of Korea-China Relations," held on the 23rd at the Federation of Korean Industries building in Yeongdeungpo, Seoul, hosted by the National Assembly World Korean Economic Forum composed of about 40 members of the National Assembly, participants emphasized the need for a new approach toward China.

Cho Cheol, Senior Research Fellow at the Korea Institute for Industrial Economics & Trade, who presented at the seminar, highlighted the limitations of cooperation with China and stressed "competition." Researcher Cho explained, "We have entered an era of full-scale competition," adding, "It is time to establish a new division of labor between Korea and China and to create a new structure based on competition."

The importance of a "financial strategy" was also notable. Professor Ahn Yuhwa of Sungkyunkwan University Graduate School said, "Financial strategy and capital strategy have become important; finance is a platform and a tool to read the market," adding, "China is currently implementing a Central Bank Digital Currency (CBDC), and companies need to make efforts to utilize it well and acquire big data."

The event was attended by National Assembly Speaker Kim Jinpyo, People Power Party Emergency Committee Chairman Joo Ho-young, Foreign Minister Park Jin, among others.

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