The image caption reads, “Presidential delegation meets with Wang Wentao, Chinese Minister of Commerce.” Wang Wentao highlighted the significance of the trade relationship between the two countries during a meeting with the special delegation sent by President Lee Jae-myung. In the meeting held this afternoon at the Ministry of Commerce in Beijing, Wang mentioned that “China recorded a trade deficit of $35.3 billion with South Korea last year” and expressed that they are accepting this as a normal occurrence due to the trade structure between the two nations.
Wang further noted that the previous day marked the 33rd anniversary of diplomatic ties between South Korea and China. He emphasized that “South Korea has surpassed Japan to become China’s second-largest trade partner,” and that “over 90% of the trade goods between the two countries consist of intermediate and capital goods, reflecting the close partnership between the two nations.”
In response, Park Byeong-seok, the head of the special delegation, stated, “The trade war initiated by the United States is reshaping the global trade order,” and stressed the importance of maintaining cooperation and pursuing mutual interests through close communication between the two countries during this crucial time.