Minister Cho Tae-yeol: "We Will Support Minimizing Companies' China Risk Burden"

First Visit to China After Inauguration... Meeting with Businesspeople for a Roundtable Discussion

"If there are risks in the Chinese market, we aim to support minimizing the burdens arising from them."

Foreign Minister Cho Tae-yeol, who visited China for the first time since his inauguration, met with Korean businesspeople operating in China and promised government-level support for their local operations.

On the 13th, Minister Cho held a meeting with Korean entrepreneurs in Beijing at a Korean restaurant, stating, "The recent external environment is challenging due to intensified US-China competition centered on advanced technology, compounded by geopolitical instability."

Foreign Minister Cho Tae-yeol (center) is delivering opening remarks during a dialogue with businesspeople in Beijing, China, on the afternoon of the 13th. (Photo by Beijing Correspondent Joint Coverage Team)

He emphasized, "The high interdependence between Korea and China has been the driving force behind the mutual growth and prosperity of both economies, but it also carries a dual nature of risk. Therefore, our relationship is one that cannot be the most affected by changes. China's economy is shifting towards a technology-intensive industrial structure, and the economic relationship between the two countries is changing from a mutually complementary partnership to a competitive one, which poses a serious challenge to us."

Minister Cho continued, "We plan to strengthen communication at various levels, including the upcoming Korea-China-Japan summit," adding, "I have heard that exchanges between Korean and Chinese economic organizations are regaining momentum, which I consider a positive sign." He said, "The first Korea-China Business Leaders Meeting was recently established, and policy discussions between the Korea Chamber of Commerce and Industry and the China Center for International Economic Exchanges have been held consecutively. The Ministry of Foreign Affairs will actively work to maintain this atmosphere, and above all, the government and businesses will act as one team to vigorously pursue economic diplomacy."

Yoon Do-sun, President of CJ China, who attended the meeting, said, "The Chinese market has brought successful results over the past 30 years, and it is a market where we can devise and realize win-win strategies for the next 30 years. If the government listens to and supports local companies facing difficulties, Korean companies will strive to grow bigger in China and bring greater results back to their homeland."

President Yoon also stated, "Since high-level exchanges with China are important, we hope for frequent communication and substantial support for businesspeople operating in China."

Attending the dialogue with Chinese businesspeople were Yoon Do-sun, President of CJ China; Lee Hyuk-jun, President of Hyundai Motor Group China; Park Yo-han, Head of Korean Air's China Regional Headquarters; Song Jae-yong, Head of SK China Center; and Jung Seung-mok, Vice President of Samsung China. After the meeting, Minister Cho is scheduled to hold a foreign ministers' meeting with Wang Yi, Chinese Foreign Minister, in the afternoon.

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