Date
22 September 2017
Chinese President Xi Jinping (centre on L) attends a summit meeting with his South Korean counterpart Park Geun-Hye (centre on R) in Seoul on July 3. More than 250 Chinese business leaders are accompanying Xi on his trip. Photo: Reuters
Chinese President Xi Jinping (centre on L) attends a summit meeting with his South Korean counterpart Park Geun-Hye (centre on R) in Seoul on July 3. More than 250 Chinese business leaders are accompanying Xi on his trip. Photo: Reuters

China-Korea: Moving toward deeper tech cooperation

President Xi Jinping took along with him the biggest-ever Chinese business delegation on his first official trip to South Korea this week. Technology titans such as Baidu founder Robin Li, Alibaba founder Jack Ma and Huawei president Ren Zhengfei were among the list of more than 250 delegates.

With the heavyweights, Xi must be looking to develop closer ties with South Korea in the technology sector.

The Chinese leader will meet with senior executives from Korean electronic giants Samsung and LG, among his other engagements during the trip, Chosun.com reports.

The initiative is not surprising as mainland technology firms have been eager to reach out and cooperate with their neighbors in the past of couple years.

For example, Baidu’s Li had met Samsung Electronics vice president Jay Lee in May last year. The two have agreed to cooperate in areas such as mobile searches, app distribution and cloud computing.
Financial news site Yicai.com has now reported that Li will represent Chinese entrepreneurs and give a speech at the Korea-China Forum on Economic and Trade cooperation.

Telecommunication equipment maker Huawei, for its part, was picked as the LTE base station supplier for the LG U+ broadband last year. The latest trip could lead to fresh business opportunities.

As for Alibaba, apart from exchanging ideas with Korean counterparts, chairman Ma is looking for potential strategic investors to invest in the Chinese e-commerce behemoth, Yicai noted. The targets include Samsung Electronics, instant messaging LINE’s parent company Naver and Korea Telecom.

A senior researcher from China’s commerce ministry told the Global Times that there is great potential for China to develop its information technology industry together with South Korea, as the two are complementary with each other.

In fact, China is South Korea’s largest trading partner. Bilateral trade hit US$229 billion last year, growing 6.4 percent from a year before.

– Contact the writer at [email protected]

RC

EJ Insight writer

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