Premier Li: Economic and trade cooperation serves as ‘ballast stone’ for China-South Korea relations

Premier Li Qiang emphasized the vital role of economic cooperation in bolstering China-South Korea relations during a sideline meeting with Samsung Group’s chairman Lee Jae-yong.

During a sideline meeting with Lee Jae-yong, chairman of Samsung Group, on Sunday, Chinese Premier Li Qiang underscored the pivotal role of economic and trade cooperation in bolstering relations between China and South Korea.

Premier Li highlighted the deep interconnection of industrial and supply chains between the two nations, emphasizing the importance of their shared interests. He hailed Samsung’s collaboration with China as a prime example of mutual benefit and win-win cooperation.

Calling for deeper collaboration in emerging sectors such as high-end manufacturing, digital economy, artificial intelligence, green development, and biomedicine, Premier Li urged Chinese and South Korean enterprises to seize opportunities for continuous enhancement of bilateral economic and trade cooperation.

Acknowledging the significant contribution of foreign enterprises to China’s development, Premier Li reaffirmed China’s commitment to keeping its vast market open to foreign companies. He extended a warm welcome to South Korean firms, including Samsung, encouraging them to further expand investment and cooperation in China.

In response, Lee expressed Samsung’s commitment to continuing its development in China and contributing to the mutually beneficial partnership between South Korea and China.

The meeting between Premier Li and Lee took place on the sidelines of the ninth Trilateral Summit Meeting among China, Japan, and South Korea in Seoul. The summit aims to foster cooperation among the three nations amidst regional challenges, including escalating tensions and economic uncertainties.

Premier Li’s remarks highlight China’s emphasis on economic collaboration as a cornerstone of its diplomatic relations, particularly with neighbouring countries like South Korea. The reaffirmation of openness to foreign investment underscores China’s commitment to global economic integration and partnership.