Chinese Commerce Minister Wang Wentao (right) and Park Byeong-seug, special envoy of President of the Republic of Korea (ROK) Lee Jae-myung, pose for a photo in Beijing on August 25, 2025. Photo: Courtesy of MOFCOM

Chinese Commerce Minister Wang Wentao met with Park Byeong-seug, special envoy of President of the Republic of Korea (ROK) Lee Jae-myung, in Beijing on Monday, saying that China and the ROK are important neighbors and economic and trade cooperation partners, and China stands ready to further deepen cooperation with the ROK, according to a statement released by the Chinese Ministry of Commerce (MOFCOM). 

Wang said that in the 33 years since the establishment of diplomatic relations, China-ROK bilateral trade has increased more than 60 times, and economic and trade cooperation plays a "ballast stone" role in bilateral relations. 

China is willing to work with the ROK to implement the important consensus reached by the leaders of the two countries, maintain the stability and smooth operation of the industrial chain and supply chain, accelerate the second phase of negotiations on the China-ROK Free Trade Agreement, explore the potential for cooperation in new industries and new fields, and promote the deepening and substantive development of bilateral economic and trade cooperation, Wang said.

Amid severe challenges facing the international economic and trade order and multilateral trade rules, China and the ROK should firmly safeguard the multilateral trading system and jointly promote regional economic integration, the Chinese commerce minister said.

At the meeting, Park said that since the establishment of diplomatic ties between the ROK and China, the development of bilateral relations has achieved remarkable results, and economic cooperation has played an important fundamental role. In the face of new changes in the economic and industrial development of the two countries, the two sides should seek new opportunities through cooperation, he said, according to the MOFCOM. 

The ROK is willing to maintain close communication and exchanges with China to jointly maintain the stability of the industrial chain and supply chain, accelerate the negotiation process of the second phase of the ROK-China Free Trade Agreement, strengthen cooperation under regional and multilateral frameworks, and properly respond to changes in the international economic and trade situation, per the MOFCOM statement.

Global Times