The first round of dialogues between Chinese and South Korean business leaders and former high-level officials, cosponsored by the China Center for International Economic Exchanges (CCIEE) and the Korea Chamber of Commerce and Industry (KCCI), opened in Beijing on June 29, 2018. Attendees from China and South Korea engaged in candid discussions on topics such as globalization, the current state of economic and trade relations between the two countries, the China-South Korea Free Trade Agreement, and opportunities for development and cooperation between Chinese and South Korean businesses in various industries. A total of 30 delegates took part in the dialogues, including CCIEE Chairman Zeng Peiyan and former Speaker of the South Korean National Assembly Chung Sye-kyun, as well as Chinese and South Korean business leaders, former high-level government officials, and think-tank experts.

Grouphorse Group provided high-quality simultaneous and consecutive interpreting services for this dialogue and exchange event.

Chinese delegates noted that bilateral trade volume between China and South Korea has increased more than 40 times since the two nations established diplomatic relations in 1992. In 2015, China and South Korea signed a free trade agreement to further advance the rapid development of their bilateral economic and trade cooperation. In order to make steady progress towards the long-term goal of promoting bilateral trade, it is still necessary to protect the current positive growth momentum, further expand the scope of collaboration, enhance mutual political trust, strengthen policy communication, and maintain close cooperation. The relationship between China and South Korea has been influenced by two main factors, namely US trade policies and the situation on the Korean Peninsula. At present, the rise of US unilateralism and protectionism has taken a toll on the global multilateral trading system as well as the liberalization and facilitation of global investment, and this trend has had a major impact on economic and trade cooperation between China and South Korea. Since the start of this year, there has been some relief of tensions on the Korean Peninsula, including a temporary respite in the North Korean nuclear crisis with peaceful development expected in the future. This creates important opportunities for economic growth in Northeast Asia. As China and South Korea are key stakeholders in this growth, both nations must consolidate their tradition of friendly development, reach compromises, and work together to stand up to the challenges of international uncertainty and risk. At the same time, the two countries must strengthen their communication and cooperation while continuing to play a positive role in promoting the denuclearization and prosperous development of the Korean Peninsula. The CCIEE hopes to make dedicated efforts in partnership with the KCCI to promote stable, long-term development of China-South Korea relations by building bridges, opening up routes for collaboration, sharing suggestions and strategies, and seeking mutual growth.

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South Korean delegates stated that while there is positive momentum for the growth of economic and trade cooperation between the two nations, as well as active communication in the non-governmental sector, there is still significant room for improvement in many areas. Protectionist practices are detrimental to the development of economic and trade relations between South Korea and China. The KCCI is committed to pushing trade, investment, and regional cooperation between the two nations to a new level, so as to facilitate the healthy and stable development of bilateral economic and trade relationships.

These dialogues between Chinese and South Korean business leaders and former high-level officials are intended to build consensus, strengthen mutual political trust, and promote the establishment of healthy, stable, and sustainable relations between China and South Korea. The dialogues construct a platform for communication among Chinese and South Korean business leaders, former high-level officials, and think-tank experts, thereby serving as an important non-governmental “track two” mechanism for promoting exchange between the two countries.

By providing high-quality simultaneous and consecutive interpreting services for this event, Grouphorse Translations has made its due contribution to facilitating dialogue and communication between China and South Korea.