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Chinese President Xi Jinping to meet with Korean business titans

Published: 29 Oct. 2025, 21:09

Chinese President Xi Jinping attends a signing ceremony with Russian President Vladimir Putin, not pictured, following their talks in Beijing, China on May 16, 2024. [AP/YONHAP]

President Xi Jinping of China is scheduled to meet with leading Korean business figures, including Samsung Electronics Executive Chairman Lee Jae-yong, for the first time in over a decade on the final day of the APEC Economic Leaders’ Meeting.

The dinner meeting is set to take place on Saturday following Xi’s bilateral summit meetings, according to business sources on Wednesday.

From Korea, attendees will include Lee, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, LG Group Chairman Koo Kwang-mo and Posco Holdings Chairman Chang In-hwa.

On the Chinese side, expected participants include Zeng Yuqun, chairman of the world’s largest battery manufacturer CATL; Li Fanrong, chairman of the state-owned energy and chemical company Sinochem; and Liu Qiangdong, founder of the e-commerce giant JD.com.

A source speaking on condition of anonymity said that the final guest list is still being coordinated and noted that “the schedule remains fluid due to diplomatic considerations.”

This event marks Xi’s first visit to Korea in 11 years and his first face-to-face meeting with Korean business leaders in more than 10 years, underscoring its significance.

Samsung Electronics Executive Chairman Lee Jae-yong, left, and CEO of Xiaomi Lei Jun pose for photos during a meeting at Xiaomi's factories in China on March 23. [YONHAP]

China’s state-run Xinhua News Agency emphasized the importance of bilateral ties in a piece published Tuesday titled “China and Korea are close neighbors who cannot move away from each other.”

The article noted that since diplomatic relations were established in 1992, trade between the two nations has increased more than 60-fold. China has been Korea’s largest trading partner for 21 consecutive years, and Korea is China’s second-largest.

The report also mentioned that the two countries are accelerating Phase 2 negotiations of their FTA and are working to build mutually beneficial partnerships in cutting-edge sectors such as advanced manufacturing, biopharmaceuticals and AI.

“No matter how the situation changes,” the article said, “China and Korea should uphold the original spirit of diplomatic relations, maintain the principle of good-neighborly friendship, and stay committed to mutual benefit and win-win cooperation.”

The International Media Center near the Gyeongju Hwabaek International Convention Center in Gyeongju, North Gyeongsang, is seen on Oct. 27. [NEWS1]

Korean companies have also been expanding their business ties with China. In March, Lee visited China and discussed automotive electronics collaboration with Xiaomi, and Samsung is also working with BYD — the world’s largest EV maker — on parts supply.

LG Electronics has teamed up with the mid-sized Chinese firm Skyworth to sell affordable refrigerators and washing machines in Europe, while Hyundai maintains cooperative relationships with China’s top three battery manufacturers — CATL, BYD and CALB.

“This dinner may not delve into sensitive issues immediately,” said a business insider, “but it could mark the start of a reset in bilateral relations — a sign of a new ‘win-win repackaging’ approach.”

Xi is scheduled to arrive in Korea on Thursday for a three-day visit. He will hold a summit with U.S. President Donald Trump on the day of his arrival, deliver a speech at the APEC summit on Friday and meet with President Lee Jae Myung for a Korea-China summit on Saturday.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM SU-MIN [[email protected]]