Beijing: Industry ministers of South Korea and China held talks Wednesday to discuss ways to stabilize supply chains amid heightening geopolitical uncertainties and promote bilateral cooperation in advanced industries, Seoul's industry ministry said. South Korean Industry Minister Kim Jung-kwan met with Chinese Minister of Industry and Information Technology Li Lecheng in Beijing to discuss ways to advance the two countries' industrial cooperation in advanced industries, such as semiconductors and batteries, according to Kim's office.
According to Yonhap News Agency, their talks marked the first such meeting between the two countries' industry ministers since 2022. In particular, Kim and Li explored measures to stabilize supply chains connecting the two countries in the battery industry, while agreeing to cooperate for the smooth operation of Korean companies' semiconductor facilities in China, the ministry said.
Separately, Kim also met with Chinese Minister of Commerce Wang Wentao where they agreed to immediately activate their hotline channel in the event of logistics delays or disruptions in raw material supplies, according to the ministry. They also agreed to make efforts to increase the predictability of supply chains between the two countries through export control dialogue and a fast-track system for key industrial items, including rare earths and permanent magnets.
In trade, the two sides agreed to hold a joint free trade agreement (FTA) committee within the first half of this year to make progress in negotiations for upgrading the bilateral trade deal to include services and investment, the ministry said. Seoul and Beijing will also resume talks to produce measures to protect the intellectual property rights of Korean music, film and other cultural content in China, it added.