Son Kyung-sik "Korea-China Must Join Forces to Build Stable Supply Chains"

Son Kyung-sik, Chairman of the Korea Employers Federation, said on the 19th (local time), "As close neighbors, Korea and China must join forces to build a stable supply chain, contributing not only to the economies of both countries but also to the economic development and peace of the entire Northeast Asia."

On the same day, the Korea Employers Federation jointly held the 1st Korea-China Business Leaders Meeting with the China International Council for the Promotion of Multinational Corporations (CICPMC) at the China World Hotel in Beijing, China. The event was attended by Chairman Son, Liu Jin, President of the Bank of China, and other representatives of Korean and Chinese business delegations, as well as Shang Fulin, Vice Chairman of CICPMC, Chung Jae-ho, Korean Ambassador to China, Yin Yong, Mayor of Beijing, Wang Liping, Director-General of the Department of Foreign Trade and Economic Cooperation of the Ministry of Commerce of China, and about 40 business and political figures.

Last month, Sohn Kyung-shik, chairman of the Korea Employers Federation, was speaking at the meeting room of the Tripartite Commission in Jongno-gu, Seoul. Photo by Heo Young-han younghan@

Chairman Son mentioned the increase in trade volume and investment since the establishment of diplomatic relations between Korea and China, stating, "For the global supply chain to operate smoothly and for economic cooperation between the two countries to advance to the next level, it is essential for companies to invest and operate freely." He emphasized the need for deregulation and policy support that hinder corporate activities so that companies can quickly respond to rapidly changing environments and make bold investments.

He said, "I am pleased that the recent Two Sessions in China also emphasized deregulation and support measures for foreign-invested enterprises," adding, "I hope that Korean companies operating in China will benefit from these supports and expand their investments and business activities."

On this day, Korean and Chinese business leaders adopted a joint declaration aimed at advancing economic cooperation between the two countries and improving the business environment. The next, 2nd meeting is scheduled to be held in Seoul. Eleven Korean companies, including Samsung, SK, Hyundai Motor, Hanwha, Korean Air, and CJ, participated in the event. On the Chinese side, 14 companies attended, including the Bank of China, China Railway Construction Corporation, China National Petroleum Corporation, Zhongliang Group, ZTE Corporation, and Beijing Energy Group.

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