Economic cooperation between China and South Korea set to resume

Posted on : 2017-12-16 16:33 KST Modified on : 2019-10-19 20:29 KST
The Chinese government is ending punitive measures put in place as retaliation for THAAD
South Korean President Moon Jae-in shakes hands with Chinese Premier Li Keqiang at the Great Hall of the People in Beijing on Dec. 15. (Yonhap News)
South Korean President Moon Jae-in shakes hands with Chinese Premier Li Keqiang at the Great Hall of the People in Beijing on Dec. 15. (Yonhap News)

South Korean President Moon Jae-in and Chinese Premier Li Keqiang’s agreement on Dec. 15 to reopen the channels of communication between trade ministries and to resume bilateral economic cooperation projects appears to mean that China is effectively ending the measures it put in place in retaliation for the deployment of the THAAD missile defense system on the Korean Peninsula. Moving forward, it is expected not only that relations between officials from the two governments will be normalized but also that exchange and cooperation in the areas of the economy, society and culture will be quickly restored as well.

Moon urged Li, the No. 2 leader of the Communist Party of China (CPC) who is in charge of the economy, to have the Chinese government take measures to relieve difficulties in the South Korean corporate and economic sector. He had also asked for China’s cooperation during a meeting with Li in Manila the month before, when he specifically mentioned the problems faced by South Korean corporations.

At that time, Li only said vaguely that “a new horizon will open for South Korea-China relations,” but this time he responded enthusiastically by mentioning specific projects and measures. When Moon requested the reopening of channels between ministries, Li immediately said that “our two countries can reopen channels between our economic and trade ministries and strengthen communication.”

Li also said that suspended cooperation projects between the two countries would be resumed to coincide with Moon’s visit. While mentioning the conclusion of memoranda of understanding (MOUs) in the areas of the economy, trade and energy, Li emphasized the importance of faithfully implementing follow-up projects. His remarks are thought to mean that China will be ending the tangible and intangible retaliatory measures that it took following the THAAD deployment.

The two leaders came to an agreement about expanding exchange and cooperation in the areas of culture, environment, energy and future industries. Moon proposed a joint reduction of fine dust, cooperation on medical care, protection of marine resources in the West Sea, a joint response to the Fourth Industrial Revolution and cooperation in the areas of human and cultural exchange. In response to these proposals, Li said, “Mutually complementary cooperation that takes advantage of our two countries’ strengths in areas where there is no clash between our fundamental interests will contribute to cooperation not only between our two countries but also in East Asia.”

Li responded to Moon’s emphasis on the Pyeongchang Winter Olympics by mentioning specific measures for making the event a success. “China will learn from South Korea’s experience with organizing the Winter Olympics, and many Chinese will visit South Korea during this period both to watch the games and to go on tours,” Li said.

This statement signaled that China would be lifting the restrictions on tourism to South Korea that it had put in place in retaliation for THAAD. Even while Li said that “our two countries must make an effort to effectively deal with sensitive issues,” in an apparent reference to THAAD, he was also optimistic about the future of the two countries’ relations. “I’m confident in the future of China-South Korea relations because our two countries are looking in the same direction and working together,” he said.

The two leaders exhibited a congenial atmosphere starting with their introductory remarks before the meeting. “If I may compare South Korea-China relations to the game of Go, I hope that we can pass from a period of not being yet alive to a period of being completely alive and beyond that to a harmonious coexistence,” Moon said. “A week from now will be the winter solstice in China. The solstice means that winter is passing and that spring is on its way. We may also look forward to the advent of spring in China-South Korean relations,” Li said.

Prior to this, Moon had met with Zhang Dejiang, Chairman of the Standing Committee of the National People's Congress (roughly equivalent to South Korea’s National Assembly Speaker) and the No. 3 leader of the CPC. “President Moon urged Chairman Zhang to take a special interest in close communication and exchange between South Korea’s National Assembly and the National People’s Congress,” said Blue House Senior Secretary for Public Relations Yoon Young-chan.

Zhang responded by saying, “Our two countries are in agreement about progressively dealing with THAAD. This visit to China has great significance for the recovery and development of bilateral relations, and I believe that the goal of this visit has already been achieved.”

By Seong Yeon-cheol, staff reporter

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