1. The governments of Korea and China presented a report on the “Vision for Korea-China economic and 
trade cooperation” at the Korea-China summit on November 16. This can be seen as the substantial results 
reaped from the agreement that Korea and China made at President Roh Moo-hyun’s visit to China in July 
2003 to search for mid- and long-term cooperative measures in trade and economy. 


2. The two countries, in accordance with the abovementioned agreement, formed a joint study group in 
February 2004 that included representatives from the government, research institutes, and the private 
sector. The joint study group has conducted a study on the “Vision for Korea-China economic and trade 
cooperation” and presented the results of the study in the form of a joint study report at the Korea-China 
summit meeting.


3. The joint study report presents 17 cooperative projects and their specific measures in the area of trade 
and economy between Korea and China in the next 5-10 years.

O According to the joint study report, the potential for trade expansion between Korea and China is very 
great, and in 2011, the trade volume between the two countries is expected to reach 200 billion dollars.

- The joint study report stresses that In order to realize this, Korea and China must strengthen measures to 
prevent trade conflicts by eliminating trade barriers, promoting trade facilitation, and establishing an early 
warning system by 2010.

O The joint study report presents measures such as enhancing the transparency of both countries’ trade-
related laws and policies, strengthening protection of IPR, and revising the Korea-China Bilateral Investment 
Treaty, etc., in order to expand investment and to solve the trade imbalance between the two countries. 

O The report expanded the 10 economic cooperative projects on which the two heads of state agreed in July 
2003 and presents 17 important cooperative projects that include economic cooperation and trade 
investment cooperation.

* The 17 cooperative projects are as follows.

- In the area of trade and investment cooperation: 1. prevention and reduction of trade disputes, 2. 
activation of e-trade, 3. simplification of customs procedures, 4. enhancement of transparency in laws and 
policies, 5. elimination of barriers in trade environment and promotion of mutual investment

- In the area of economic cooperation: 6. next-generation information-communication technology (ICT), 7. 
establishment of an information system for the 2008 Beijing Olympics, 8. distribution and logistics, 9. 
development of China’s western region, 10. construction of a thermal power plant and a nuclear power plant 
in China, 11. projects to promote the northeast industrial complex, 12. automobiles, 13. steel, 14. project to 
build and manage the Beijing-Shanghai high-speed railway, 15. joint development of environmental 
technology, 16. ultramodern technology (NT/BT), 17. agricultural investment and technology 


4. The joint study report stresses that Korea and China should review the issue of concluding a Korea-China 
FTA as one of the mid- to long-term tasks to increase cooperation in the area of trade and economy.

O First, by faithfully executing the feasibility study on a Korea-China FTA that is currently under way, Korea 
and China must thoroughly analyze the positive and negative effects that a bilateral FTA would have on the 
two countries.

O Strengthening trilateral cooperation between Korea, China and Japan, and overall economic cooperation 
in the East Asian area is also important, and Korea and China must jointly endeavor to realize a free trade 
area in East Asia.

                                                         Spokesperson for MOFAT

* unofficial translation