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S. Korea, China Agree to Strengthen Cooperation on Supply Chains

Written: 2023-12-05 12:00:51Updated: 2023-12-05 14:12:57

S. Korea, China Agree to Strengthen Cooperation on Supply Chains

Photo : YONHAP News

South Korea and China have agreed to work to strengthen supply chain cooperation.

According to the Chinese commerce ministry on Tuesday, the two countries agreed to increase cooperation in industrial chain and supply networks during the fifth session of their free trade agreement joint commission in Beijing the previous day.

The two sides exchanged views and reached a consensus on the launch of a dialogue on each sides’ export controls and a hotline on industrial and supply chains.

They also agreed to make efforts to accelerate a second-phase FTA negotiation intended to improve the quality of the bilateral trade deal, specifically in terms of place of origin and technological trade barriers.

The ministry did not, however, mention Seoul's request for immediate action from Beijing regarding delayed customs procedures for Chinese exports of urea to South Korea.

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