[Editorial] President Lee’s State Visit to China: Achieving Tangible Results in Economic Cooperation

President Lee Jae Myung departed on the 4th for a four-day state visit to China. This marks the first visit by a South Korean president to China in six years, following former President Moon Jae-in’s trip in December 2019. In terms of state visits, it is the first in nine years since December 2017. A visit to Japan is also scheduled for later this month. President Lee will continue shuttle diplomacy with Japan in Nara Prefecture in mid-month. This is his second meeting with Chinese President Xi Jinping, following their talks at the Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju last November. The fact that China is President Lee’s first diplomatic counterpart of the new year is particularly significant.
Given the volatile situation in Northeast Asia, every word and action by President Lee during this visit could have far-reaching consequences. Tensions between China and Japan have escalated following remarks by the Japanese Prime Minister about potential involvement in a Taiwan contingency. China has pressured South Korea not to follow Japan’s example and to adhere to the One China principle. Meanwhile, the United States of America (USA), which had previously remained relatively silent, issued its first official statement of the year, strongly criticizing China’s military drills encircling Taiwan. It is crucial for South Korea to respond prudently to avoid becoming unnecessarily entangled in the conflict between the USA, Japan, and China. As agreed at the South Korea–United States summit, reaffirming support for peace in the Taiwan Strait and responding appropriately will be essential.
Above all, it is vital to achieve tangible outcomes in economic cooperation between the two countries. Much of the visit’s agenda is focused on economic events. On the second day, January 5, the Korea-China Business Forum will be attended by the heads of the Big Four conglomerates and 200 business leaders alongside President Lee. This large-scale gathering offers a valuable opportunity for the business communities of both nations to strengthen ties and pursue collaboration. On January 6, President Lee will meet with Li Qiang, China’s Premier, to discuss further economic cooperation. The final day, January 7, will feature the Korea-China Venture Startup Summit in Shanghai.
Korea-China economic cooperation is now entangled in the intensifying technological rivalry between the United States and China. American restrictions on advanced technology are becoming increasingly stringent. Within the boundaries of these U.S. guidelines, South Korea must actively seek partnerships and further solidify supply chains for rare-earth elements (REE) and other mineral resources. The damage caused by the ban on Korean content in China, imposed after the 2017 Terminal High Altitude Area Defense (THAAD) deployment, remains severe. It is imperative to normalize bilateral relations and achieve a complete and swift lifting of the ban. Since peaking in 2022, Korea-China trade volume has continued to decline, and South Korea has recorded a trade deficit with China for three consecutive years since 2023. As China’s manufacturing sector rapidly advances, it is necessary to pursue a second-phase negotiation of the Korea-China Free Trade Agreement (FTA) to expand trade not only in goods but also in services and investment.
It is also essential to secure cooperation on the issue of the Democratic People's Republic of Korea (DPRK), which has recently heightened security concerns with increasingly provocative actions. At the same time, South Korea must take a firm stance with China regarding illegal structures installed in the Yellow Sea. We hope that President Lee, who has championed pragmatic diplomacy, will uphold principles and achieve meaningful results with conviction.