1. The 25^th meeting of the Korea-China Joint Economic Committee took place in a virtual format between Seoul and Beijing on November 30, with Vice Minister of the Korean Ministry of Foreign Affairs Choi Jongmoon and Vice Minister of the Chinese Ministry of Commerce Ren Hongbin leading their respective delegations.

※ The Korea-China Joint Economic Committee is a vice minister-level consultative mechanism between the Korean Ministry of Foreign Affairs and the Chinese Ministry of Commerce, which has convened on an annual basis since its first meeting in 1993, following the establishment of diplomatic ties with China.

2. In the meeting, the two sides appreciated that economic cooperation between the two countries remained stable despite the influence of COVID-19. The two sides agreed to continue to advance discussions on bilateral economic cooperation in the mid to long term, on the occasion of the 30^th anniversary of diplomatic relations between the two countries.

3. The two sides adopted the Korea-China Joint Plan for Economic Cooperation (2021-2025), a blueprint for economic cooperation over next five years, and agreed to foster collaborative efforts between Korea’s New Southern and Northern Policies and China’s Belt and Road Initiative.

※ The two sides agreed at the 23^rd meeting of the Joint Economic Committee to draw up the Korea-China Joint Plan for Economic Cooperation (2021-2025) as the successor to the Korea-China Joint Plan for Development of Economic and Trade (2016-2020) and adopted the Joint Plan for Economic Cooperation at the 25th meeting after joint research was conducted by research institutes of the two countries.

4. The Korean side requested the Chinese side make an effort to expand bilateral exchanges and cooperation in such areas as cultural contents including games, movies and TV programs, on the occasion of the year of Korea-China cultural exchange from 2021 to 2022, and asked the Chinese government to continue cooperation in protecting intellectual property rights and in resolving difficulties of Korean companies operating in China.

5. In addition, the Korean side appreciated the Chinese side’s cooperation in the process of importing urea to Korea and suggested that the two countries continue to communicate closely in order to facilitate bilateral trade despite the instability of global supply chains.

6. The Chinese side suggested that the two sides cooperate in the fields of digital economy and low-carbon economy, and asked the Korean side to enhance economic cooperation among provinces in Korea and China including at the Korea-China Industrial Complexes.

7. In this meeting held ahead of the 30^th anniversary of diplomatic relations, the two sides comprehensively reviewed the progress in bilateral economic cooperation and exchanged views on substantive matters such as consultation on resolving difficulties of companies of the two countries as well as views on ways to cooperate in the mid to long term.