China & South Korea Closer trade ties will benefit both countries & global economy.

China is South Korea’s largest export market and the largest source of imports as well. The two countries are expected to speed up the second phase of their free trade agreement or FTA negotiations. China has reiterated that it is willing to work with other countries to jointly ensure the safety and smooth operations of global industrial and supply chains. China and South Korea should pay attention to market needs and make decisions based on economic rather than political factors, said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation. Both countries should see each other in a more positive light because they can benefit from each other’s development, he said. It is necessary for the two countries to cooperate based on their comparative advantages formed through competition, and achieve quality growth.