Foreign minister Park Jin says South Korea will continue to bolster economic cooperation with China despite diplomatic challenges facing the two nations.

The remarks came during a meeting with South Korean entrepreneurs in the city of Qingdao on Tuesday, the second day of Park's three-day visit to China.

Pointing out that trade with China in the month of May posted a deficit for the first time in 28 years, the foreign minister assessed that the international order surrounding the two partner countries has entered a new turning point. He specifically noted that global trade is evolving amid an escalating U.S-China rivalry and expanded risks that threaten the current state of international relations.

However, he reiterated South Korea's strong desire to further develop Seoul-Beijing relations based on mutual respect and shared goals. Minister Park said Seoul aims to resume suspended negotiation channels with Beijing through his visit.

Park is set to hold talks with Chinese foreign minister Wang Yi on Tuesday afternoon where the two will discuss future bilateral relations and issues of mutual concern.