China Highlights Expanding Economic and People-to-People Ties with South Korea

China highlighted expanding economic and people-to-people exchanges with South Korea on Monday while calling for closer cooperation, as Beijing pointed to renewed momentum in bilateral ties.

Speaking at a reception in Seoul marking the 77th anniversary of the founding of the People's Republic of China, Chinese Ambassador to South Korea Dai Bing said relations had gained momentum following reciprocal visits by Chinese President Xi Jinping and South Korean President Lee Jae Myung.

"China and the ROK are irreplaceable close neighbours and inseparable cooperative partners," Dai said, using South Korea's formal name and referring to Xi's visit to South Korea late last year and Lee's state visit to China in January, about two months later.

The visits marked a shift toward steadier bilateral engagement following a loss of momentum in recent years, with the two governments seeking to expand dialogue and practical cooperation.

Dai said economic cooperation was also evolving beyond a traditional division of labor toward closer collaboration across industrial supply chains.

According to figures cited by the ambassador, bilateral trade reached $330.6 billion from January through August, up 55.8 percent from a year earlier and on track for another annual record.

During Lee's January visit, Seoul and Beijing agreed to broaden economic cooperation into areas including supply chains, critical minerals and digital technology.

The shift comes as Korean and Chinese companies increasingly compete as well as cooperate in manufacturing and emerging industries.

Dai also pointed to increased travel between the two countries, saying annual two-way visits were expected to surpass 10 million amid visa facilitation measures.

Dai also pointed to APEC cooperation, with China succeeding South Korea as host this year after the 2025 leaders' meeting in Gyeongju.

Shenzhen is scheduled to host this year's APEC Economic Leaders' Meeting on Nov. 18-19.