The Ministry of Trade and Industry (MOTI) said on the 1st that it held a Korea-China trade policy exchange meeting at the Park Hyatt Seoul in Gangnam District, with about 100 government and related organization officials from the two countries and representatives from corporations attending.
The event consisted of a "briefing on China's economic and trade laws and policies" for our corporations and a "Korea-China local government trade policy exchange meeting." As China's economic and trade policies have been changing rapidly, it was prepared to strengthen the response capabilities of our corporations and expand cooperation between Korea and China's local governments.
The briefing provided a comprehensive guide to matters directly related to business with China, including major trade policies, export control systems, and import regulations for food and cosmetics. It particularly focused on offering practical response measures and solutions. The exchange meeting was attended by investment promotion policy officials from Gyeonggi Province, Incheon Metropolitan City, and South Jeolla Province in Korea, and officials from Jiangsu Province, Shandong Province, and Yanbian Korean Autonomous Prefecture in China. Participants introduced investment promotion policies by region and desired areas of cooperation and exchanged views on ways to expand investment cooperation.
The Ministry of Trade and Industry (MOTI) has held several high-level meetings with China this year, including meetings with key local government figures and regular consultations. In Aug. and Sept., it held vice ministerial industry meetings between Korea and China; in Oct., a trade ministers' meeting; and in Nov., a commerce ministers' meeting. In addition, it held meetings, exchange meetings, and forums with Chinese local governments such as Liaoning Province, Shandong Province, and Guangdong Province.
Kim Jong-cheol, director general for trade cooperation, said, "Local governments are the channels that communicate most closely with on-site corporate activities and the practical foundation of economic cooperation between the two countries," adding, "The fact that local government officials from both countries met in person to discuss the investment conditions for corporations in the other country will be of great help in resolving the difficulties faced by our corporations entering China."