Participants of the China-South Korea Business Forum pose for a group photo at the Diaoyutai State Guesthouse in Beijing on January 5, 2026. Photo: Chi Jingyi/GT

The China-South Korea Business Forum was held on Monday, a supporting activity for South Korean President Lee Jae-myung's state visit to China from Sunday to Wednesday. Participants told the Global Times that they are eyeing huge cooperation potential between the two countries, especially in high-tech and cultural fields.

Chinese Vice Premier He Lifeng and South Korean President Lee Jae-myung attended the opening ceremony of the forum on Monday at the Diaoyutai State Guesthouse in Beijing.

China and South Korea should strengthen economic ties and forge new prospects for win-win cooperation, Chinese Vice Premier He Lifeng said at the forum, according to the Xinhua News Agency.

Lee said that in recent years, cooperation between South Korea and China has deepened across various fields, noting that South Korea is willing to strengthen mutually beneficial cooperation with China and bring more benefits to the peoples of both countries, according to the Xinhua report.

About 400 representatives from the government and business communities of both countries participated in the event. Prominent Korean business leaders included Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo. 
 
The forum conducted in-depth dialogues centered on three core themes: manufacturing innovation and supply chain resilience, consumer market upgrading and innovation, and coordinated development of modern services industries, according to the China Council for the Promotion of International Trade (CCPIT) and the Korea Chamber of Commerce and Industry (KCCI), co-organizers of the forum. 
 
When addressing the opening ceremony, Chey Tae-won, chairperson of the KCCI and SK Group chairperson and CEO, reflected on the forum's significance, noting it was the first one in nine years. 

"I attended as a delegation member back then at Diaoyutai; returning now as a co-host fills me with emotion and joy," Chey said, expressing gratitude for the strong turnout amid busy schedules and highlighting high expectations for bilateral economic ties.

In terms of bilateral cooperation, attendees reached by the Global Times highlighted immense potential in high-tech fields such as artificial intelligence (AI) and robotics, cultural exchanges, beauty products, and beyond, signaling fresh momentum for bilateral ties.

Kim Sin-jae, CEO of Samjin Amook Co, a large fishcake brand in South Korea, told the Global Times on Monday on the sidelines of the forum that many sectors are complementary, offering ample opportunities for collaboration, especially in new technology development. 

"Following this state-level event, we will sign a memorandum of understanding to formally enter the Chinese market with a local partner to help us expand," said Kim.

"China-Korea economic and corporate cooperation has long been at a high level. Amid challenges to globalization, companies from both sides should seek more mutually beneficial models in supply chains and technology," Li Dongsheng, chairperson of TCL Technology Group, told the Global Times on Monday on the sidelines of the forum.

With rapid tech advances, strengthened research and development (R&D) collaboration is key. President Lee's large delegation and the attendance of major Chinese firms with cooperative relationships with South Korea create valuable platforms and opportunities for deeper partnership, said Li.

Li pointed out that there are also abundant opportunities for cooperation in industrial and supply chains. "The most favorable condition is that China and South Korea are close neighbors, which makes bilateral cooperation more competitive in terms of efficiency and time costs."

Zou Songyan, Vice-President of Business Operations of Bloomage Biotechnology Corp, told the Global Times on the sidelines of the forum that "we place great importance on the South Korean market. We entered the market as a hyaluronic acid supplier in 2002 and established a subsidiary in 2023, shifting to a deep cultivation mode. Beyond supplying raw materials, we also help South Korean brands enter the Chinese market."

Zou said that the company is planning heavier investment, having signed strategic agreements with leading South Korean firms.

Rui Xiaoheng, deputy general manager of Industrial and Commercial Bank of China (ICBC)'s Seoul Branch, told the Global Times on Monday on the sidelines of the forum that forum participants included leaders from traditional industries as well as digital tech, the green economy, and biomedicine - many of which are key ICBC clients. 

"We have witnessed the upgrading of China-South Korea trade and financial cooperation. As bilateral cooperation is strongly complementary, ICBC will proactively support bilateral trade by providing comprehensive financial solutions, including information, funding, and market matchmaking," said Rui.

China-South Korea industrial chain cooperation is undergoing a significant transformation, shifting from traditional "supply chain complementarity" to "innovation chain synergy," with greater emphasis on joint R&D and standard-setting, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Monday.

According to China's customs, the industrial chain synergy between China and South Korea deepened in the first 11 months of 2025. Total trade of mechanical and electrical products reached 1.43 trillion yuan ($204.8 billion), up by 5.9 percent, accounting for 67 percent of bilateral trade.