China, ROK to increase bilateral cooperation

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Last updated at: (Beijing Time) Sunday, November 23, 2003

China, ROK to increase bilateral cooperation

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Scholars, experts and businessmen from both China and South Korea gathered in Beijing on Saturday for a Sino-South Korean Symposium on bilateral cooperation. A consensus was reached that both sides should continue to increase cooperation in political, economic and cultural areas to promote the prosperity of East Asia. The Symposium was jointly hosted by institutes of international studies in the two countries.

China and South Korea's political and economic issues were main topics of discussion at the symposium. Other issues on the table included Security Cooperation in East Asia, the current status and prospect of China-ROK economic and trade relations.

In the light of the second round of multilateral talks on the DPRK's nuclear program, the peace on the Korean Peninsula became the main focus of discussion. Experts from South Korea highly evaluated China's role in promoting the security of the region.

Kyongsoo Lho, Professor of Seoul National University, said, "During this very difficult and tension-risen period, I think Beijing has played a very important role in stepping in and being a mediator..."

Chinese scholars stressed the deepening of bilateral cooperation between the two nations towards the peaceful resolution of the DPRK's nuclear issue.

Jin Canrong, Professor of Renmin University of China, said, "We should enlarge our cooperation. The main direction for cooperation is that we should coordinate with each other and work together to persuade all the other parties consent to be more patient to stick on the track of negotiations and force the track to follow on the direction of peaceful resolution."

China-ROK economic and trade cooperation is also a major topic at the conference. Hyundai Motor Company, one of the major South Korean investors in China, revealed its ambitions to increase its investment in the country.

Park HwangG-Ho, President of Hyundai Motor Co., said, "Currently Beijing Hyundai Motor Company has the capacity to produce on a yearly basis 50,000 units. Within 2 years, we will be expanding our facilities and infrastructure to the capacity of 300,000 units a year."

The economic and trade cooperation between China and South Korea has grown markedly in the past decade. With bilateral trade accounting for a large portion of both countries' foreign trade volumes, the Sino-South Korean relationship looks to endure for years to come.

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