The Korea-China trade was registered USD313.1 billion
Source: CAEXPO Wechat Time:2019-08-07 20:37:00
Both China and ASEAN are important trading partners for the ROK. In 2018, the Korea-China trade was registered USD313.1 billion, and that with ASEAN, USD159.7 billion, making them the first and second largest trading partners for ROK. The volumes combined accounted for 1/3 of Korea’s total foreign trade.
Meanwhile, ROK’s cumulative direct investment in China has reached USD62.7 billion till 2018, and that in ASEAN, USD61.8 billion.
ROK has concluded FTA agreements with ASEAN and China respectively in 2009 and 2015, which is good evidence of the close ties among Korea-China-ASEAN.
Likewise, enterprises on the three sides are closely bound and collaborate along the same value chains. A majority of them need to buy or sell parts, raw materials and finished products to their counterparts, and vice versa.
“In my point of view, the China-ASEAN Expo plays a vital role during the course, providing a B2B cooperation platform for enterprises in ROK, China and ASEAN member countries.” Consul General of the Republic of Korea said.
Consulate General of the Republic of Korea in Guangzhou will work closely with the China-ASEAN Expo Secretariat and support participation of Korean companies in the trade show. I wish the 16th CAEXPO to be held on 20th-23rd September in Nanning a complete success. Consul General of the Republic of Korea said.
The relations between ROK and Guangxi are special. 80 years ago, Korean temporary government stopped over for some 5 months in Liuzhou of Guangxi. Peoples of the two countries extended helping hands to each other and tided over hardships side by side. Consul General of the Republic of Korea wish to avail myself of this opportunity to thank Liuzhou city for preserving the site of the temporary government.
Consul General of the Republic of Korea joined ROK Ambassador to China Mr. Jang Ha-sung for the ROK-Guangxi Friendly Week held on 8th-10th July in Nanning and Liuzhou of Guangxi. Events which aimed to boost bilateral economic engagement and cultural exchanges were successfully concluded, with full support of the Government of Guangxi Zhuang Autonomous Region.
“While the Chinese government is promoting the Belt and Road Initiative, implementation of the New Look South Policy is well underway in Korea. Strengthening the ROK-China-ASEAN cooperation will bring us more win-win results and common prosperity. ”Consul General of the Republic of Korea said.