The governments of South Korea and China agreed on the 5th (local time) in Beijing, China, to institutionalize the Korea-China ministerial meeting on commerce, using the summit between President Lee Jae-myung and Chinese President Xi Jinping as an opportunity. They also agreed to hold regular ministerial-level meetings on climate cooperation and to seek various forms of cooperation in sectors including industry, environment, and intellectual property rights.

In addition, the South Korean government donated a pair of Qing Dynasty stone lion statues, previously held by the Kansong Art Museum, to the Chinese government.

On the occasion of President Lee Jae-myung’s state visit to China on the 5th, the two countries signed 14 memorandums of understanding (MOUs) and one deed of donation led by the relevant government ministries of both sides.

First, South Korea and China agreed to establish a “Dialogue on Commercial Cooperation,” a regular consultative body between Korea’s Ministry of Trade, Industry and Energy and China’s Ministry of Commerce. Through this mechanism, the previously ad hoc Korea-China ministers’ meeting on commerce will be made regular to discuss a wide range of economic and trade agendas. At the same time, the two sides signed an MOU aimed at revitalizing investment between Korea-China industrial cooperation complexes and consolidating industrial and supply chain cooperation.

An MOU was also signed on environmental and climate cooperation. The two countries will hold regular ministerial- and director-general-level meetings to discuss climate change, air quality, fine dust, and related issues. They will also carry out joint research, exchanges among researchers, and joint seminars in order to jointly address global challenges such as climate change. A government official stated, “Following the signing of the MOU on environmental and climate cooperation, the scope of environmental cooperation will be expanded.”

An MOU on the protection of intellectual property rights was also concluded. The two governments plan to establish an institutional foundation for cooperation related to the protection and utilization of intellectual property, as well as patent analysis, examination, and administration using technologies such as artificial intelligence.

The customs authorities of both countries will strengthen their capabilities to crack down on intellectual property rights infringements by inviting each other’s customs officials and promoting cooperation such as mutual exchange of case studies and detailed information on the detection of intellectual property infringements involving export and import goods by the two customs administrations. The government expects that this will enable immediate enforcement against IPR infringements at the customs clearance stage for export and import goods, thereby improving the efficiency of enforcement.

An MOU on cooperation for guaranteeing children’s rights and promoting child welfare was also signed. The core objective is for the two countries to cooperate in applying the principle of prioritizing children in public policies, facilities, and services. To this end, the two sides plan to expand points of contact between the two countries through sharing child-related policies, conducting joint research, and holding exchange events involving the public sector, private sector, and academia.

The scope of South Korea’s seafood exports to China will also expand. The two countries signed an MOU on sanitary measures for trade in wild marine products, allowing exports to China of items such as refrigerated pomfret that had previously been unable to obtain item-by-item approval and therefore could not be exported.

Meanwhile, during the MOU signing ceremony among the relevant ministries held the same day, South Korea donated a pair of Qing Dynasty stone lion statues from the collection of the Kansong Art Museum to China’s National Cultural Heritage Administration. The donation of Chinese cultural heritage back to its home country is intended to strengthen Korea-China cultural cooperation.

Popular News