ROK Ambassador to China Kim Ha Joong indicated at the ceremony for the completion of the second-phase project of the China-ROK jointly financed Nanjing Jinhu Tire Co. Ltd. held on the afternoon of April 20 that the ROK and China have achieved leapfrog development unheard of in the world diplomacy history in their exchanges and cooperation in the political, economic, social and cultural fields since diplomatic relations were established between the two countries in 1992.

The ambassador said that currently China is the No.1 trading country of the ROK which, in turn, is China's third largest trading partner, the total volume of ROK's investment in China reached US$26 billion last year. China has thus become the No.1 object for ROK's investment.

Kim said the expansion of economic cooperation has naturally enhanced interpersonal exchanges, the number of people involved in visits exchanged between the two countries last year hit the mark of 3.5 million. At present, bilateral relationship is developing in line with the agreement on "all-round cooperative partnership" reached between the two countries in 2003.

With the completion of the company's second-phase project and its going into operation, the Nanjing Jinhu company has become the largest tire enterprise in terms of the size of single factory in China.

By People's Daily Online