Antitrust watchdogs from South Korea and China have agreed to strengthen their bilateral cooperation. 

Fair Trade Commission Chairman Kim Sang-jo and Gan Lin, Deputy Director of China’s State Administration of Industry and Commerce, met in Seoul on Thursday and signed a memorandum of understanding to enhance cooperation and share up-to-date policy-related information. 

Kim emphasized the need for Seoul and Beijing to cooperate on antitrust issues, noting it will help the two countries address the global challenge of creating a level-playing field in the era of the Fourth Industrial Revolution.

Under the MOU, the two organizations will hold meetings on a regular basis to discuss cooperation and exchange information. They will also hold joint workshops and implement joint research activities.