South Korean and Chinese businesspeople established a network for strategic cooperation through the 8th World Chinese Entrepreneurs Convention (WCEC), Minister of Commerce, Industry and Energy Lee Hee Beom said in Seoul Wednesday at a press conference held after a forum of the leading Korean and Chinese CEOs.

At the press conference also attended by some major Chinese business leaders and CEOs, Lee said South Korea successfully hosted the 8th WCEC and a network for strategic cooperation between South Korean and Chinese businesspeople were set up through the convention.

The 8th WCEC will not only promote South Korean businesses' cooperation with their Chinese counterparts but also expand their overseas cooperation network on business, the minister said.

Chen Xianglin, CEO of Shanghai Automative Industry Co. (SAIC), echoed Lee's view for enhancing bilateral cooperation.

He said SAIC began to introduce Ssang Yong mini bus to China in 2002 and has invested 600 million US dollars in South Korea so far.

The SAIC bought 50.8 percent of stake in Ssang Yong Motor Co. in July this year and it harbored a common object with its South Korean counterpart to not only develop a strong presence of Ssang Yong in South Korea, but also push a global presence of the automaker, he said.

Meanwhile, US Chamber of Commerce Chairman Deng Long also said the investment environment in South Korea has been improved and the status of Chinese business community here also raised under the current government.

South Koreans are patriotic and united, a feature that is worthy of learning by other nationalities, he said.

But he also expressed the hope that the South Korean government and local business leaders can help press for the adopting of laws respecting immigrants and that South Korea can further open its mind to accept other nationalities to live and invest in the country.

Thus, South Korea can attract more foreign investments from various nationalities to further push forward the country's economy, he stressed.

"Let's learn each other and progress together to make Asia a true center of world economy," he added.

The CEOs forum was part of the three-day WCEC that kicked off Monday. It attracted more than 2,500 Chinese businesspeople from 30 countries and regions and their 800-plus South Korean counterparts.

Source: Xinhua