Korea's biz lobby to foster ties with Chinese corporations

Industry

Published: 07 Nov. 2023, 18:31 Updated: 07 Nov. 2023, 18:32

Korea's biz lobby to foster ties with Chinese corporations

Korea Enterprises Federation (KEF) Chairman Sohn Kyung-shik, left, and Bi Jinquan, executive vice chairman at the China Center for International Economic Exchanges, pose for a photo at the office of the Chinese association in Beijing on Monday. [KEF]

The head of Korea’s major business association has discussed ways to strengthen ties with Chinese corporations amid uncertain geopolitical conditions.

Korea Enterprises Federation (KEF) Chairman Sohn Kyung-shik met with Shang Fulin, vice president at the China International Council for the Promotion of Multinational Corporations and Bi Jinquan, executive vice chairman at the China Center for International Economic Exchanges.

Sohn raised the need to cooperate on the stabilization of the supply chain network.

“As the world is going through increased economic uncertainties and geopolitical risks, corporations from both countries should work toward stabilizing the global supply chain,” Sohn said during the meeting.

The chairman highlighted the importance of working together in high-tech areas.

“The two countries should find ways to increase the personnel exchange in advanced technology sectors like AI and robots,” he said, asking for support for Korean businesses operating in China.

In light of Sohn’s visit, KEF will conduct joint projects with the China International Council for the Promotion of Multinational Corporations, an association tasked with promoting foreign investment.

“With manufacturing and service sectors merging quickly in China against the backdrop of the digitalized economy, Korean and Chinese corporations should maintain communications in multiple ways,” the chairman said.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]