By Diplomacy Journal Lee Jon-young

President Yoon Suk-yeol held a summit with Chinese President Xi Jinping in Lima, Peru, on the sidelines of the 31st Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting on Nov. 15 (local time).

Xi said that since he and Yoon met in Bali two years ago, there have been many changes in the international and regional situation. No matter how the situation changes, Xi emphasized that China and South Korea should uphold the foundations of diplomatic ties, firmly follow the direction of good-neighborly friendship, and adhere to the goal of mutual benefit and win-win. 

President Xi also said that the two countries should utilize the advantages of geographical proximity, cultural communication and economic interconnection, strengthen exchanges and deepen cooperation to promote the healthy and stable development of the China-South Korea strategic cooperative partnership, bring welfare to the two peoples and make more contributions to regional peace, stability, development and prosperity.

“We should also strengthen high-level exchanges, promote understanding and trust, and strive for mutual achievement and common development,” Xi said. China will firmly expand its high-level opening-up to the outside world and welcome more South Korean companies to come to China for investment and business, he added. 

The two sides should work together to safeguard the international free trade system and maintain the stable and smooth flow of global and regional industrial chains and supply chains, he said.

He said the two countries should organize more activities conducive to promoting friendship, suggesting more exchanges among media, academia, local governments, and especially the younger generation. 

He added that he would welcome more South Korean citizens to come to China, and hoped that the South Korean side would also make more accommodations for Chinese citizens to visit. China congratulates and supports South Korea's hosting of next year's APEC and is willing to expand multilateral coordination and cooperation with the South Korean side, he said.

Yoon said that since his meeting with Xi in Bali two years ago, China-ROK exchanges and cooperation in various fields have developed in an orderly manner. China is an important engine for global economic growth, he said, adding that it makes important contributions to coping with the challenges facing the world. South Korea regards China as an important partner and will continue to uphold the foundations of diplomatic relations in the spirit of mutual respect, promote the sustainable development of the China-South Korea strategic cooperative partnership, better respond to common challenges, and promote peace and stability in the region, he said. 

The South Korean side stressed that it hopes to participate in China's modernization process and further deepen bilateral economic and trade cooperation.

Welcoming the Chinese side's granting of visa-free access to South Korean nationals, Yoon said his country would like to promote friendship between the two peoples through close humanities exchanges. South Korea is also willing to communicate and cooperate closely with China in multilateral mechanisms such as APEC to jointly defend multilateralism and free trade, he said.