Ministry of Trade, Industry and Energy

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea and the Ministry of Commerce (MOFCOM) of China held the second supply chain hotline meeting on November 28 in Yancheng City of Jiangsu Province, China, as a follow-up to the Korea-China summit talks held in May. Through the hotline meeting, the two sides introduced their supply chain policies and agreed to continue joint efforts for stabilizing the supply chain with an aim to nurture a more predictable investment environment.

During the ensuing fifth working-level meeting on the Korea-China industrial cooperation complex, the two sides took stock of the operation situation at the industrial complexes located in Saemangeum, Yantai, Yancheng, and Huizhou.

On the same day, MOTIE, MOFCOM, the Korea Trade-Investment Promotion Agency (KOTRA), and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) co-hosted the forum on Korea and China’s joint market entry into third countries with the participation of 100 entrepreneurs and related persons of both countries to share information on investment environments of third countries and best practices of bilateral cooperation, followed by a business networking session. 

The next day, the Yancheng Economic and Technology Development Zone Committee and the Saemangeum Development Corporation signed a memorandum of understanding (MOU) for cooperation to expand the two countries’ industrial complex exchanges going forward.