South Korean President Lee Jae Myung's visit to China is his first visit since taking office in June and takes place amid escalating global tensions after North Korea's ballistic missile launch and the US attack on Venezuela.
This is also the 2nd meeting between President Lee Jae Myung and Chinese President Xi Jinping in just 2 months. This development shows that China is interested in promoting economic and tourism cooperation with South Korea, analysts said.
The South Korean Ministry of Commerce announced these 9 agreements on January 5, which said that Alibaba International, Lenovo and Korean retailer Shinsegae were among the companies that signed the agreement.
President Lee Jae Myung arrived in Beijing on January 4, starting a 4-day state visit. Accompanying him was a delegation of more than 200 South Korean business leaders, including Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won and Hyundai Motor Group CEO Euisun Chung.
President Lee Jae Myung said that South Korea and China need to expand economic cooperation in the field of artificial intelligence and can also cooperate in consumer goods such as household appliances, cosmetics, food and cultural content such as movies, music, video games and sports.
However, Chief of Office of the President of South Korea Kang Hoon-sik said on January 5 that Beijing is unlikely to lift the unofficial ban on Korean culture in the near future.
Chinese state television CCTV reported that China and South Korea are expected to discuss issues such as supply chain investment, digital economy and cultural exchange during President Lee Jae Myung's visit.
