China is currently Korea’s largest trade partner, accounting for a quarter of Korea’s overall exports. And it looks like the country will continue to play a key role in the Korean economy.

Korea International Trade Association] “As the Chinese economy continues to expand, it will provide a large market to Korean companies. Therefore, China will serve an important role as the production base to Korean firms, and also as an export market.”

With bilateral trade volume expected to hit the 200-billion US dollar mark this year, the finance chiefs of Korea and China held their annual meeting in Seoul on Wednesday.
Ahead of the four-hour meeting, Korea’s Finance Minister Bahk Jae-wan told his Chinese counterpart Zhang Ping, the chairman of the National Development and Reform Commission, that the meeting was timely.

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