1. The 25^th Korea-China Meeting for Comprehensive Review of Economic Cooperation was held in a virtual format between Seoul and Beijing on September 2, with Director-General for Bilateral Economic Affairs of the Korean Ministry of Foreign Affairs Lee Miyon and Director-General of the Department of Asian Affairs of the Chinese Ministry of Commerce Yang Weiqun leading their respective delegations.

※ The Korea-China Meeting for Comprehensive Review of Economic Cooperation, first held in 1993, is an annual director general-level consultative mechanism between the Korean Ministry of Foreign Affairs and the Chinese Ministry of Commerce, through which the two sides comprehensively review the progress in bilateral economic cooperation and exchange views on ways for future cooperation.

2. At the meeting, the two sides noted with appreciation that the two countries have been maintaining close economic cooperation despite the global economic recession due to COVID-19, and expressed hope that trade and investment between the two countries will continue to expand.

3. The two sides discussed matters of mutual interest and substantive cooperation such as expanding people-to-people exchanges through the Korea-China fast track procedure for business travelers and drafting the Korea-China Joint Plan for Economic Cooperation (2021-2025). Also, the two sides agreed to continue to communicate closely on ways to promote regional and multilateral cooperation including the Regional Comprehensive Economic Partnership (RCEP) and ASEAN+3.

° The Korean side asked for the continued cooperation of the Chinese government in increasing the number of regular flights, successfully promoting the Year of Korea-China Cultural Exchanges (2021-2022), expanding cultural exchanges through issuance of business licenses to Korean games and screening of Korean movies, enhancing mutual cooperation in the food and agriculture sector, and resolving difficulties faced by Korean companies operating in China.

° The Chinese Side asked for the Korean government’s interest in boosting trade between the two countries, seeking new possibilities for industrial cooperation, and enhancing cooperation between regional governments, as well as cooperation over difficulties faced by Chinese businesses in Korea.

4. The two sides agreed to continue communication for further strengthening of Korea-China economic cooperation. They also agreed to continue discussing the hosting of the 25^th meeting of the ROK-China Joint Economic Committee (Vice Minister level) during the second half of this year.