韩国四大财团掌门人都来了！200多家韩企来华寻找经贸新“稳定器”

Core Insights - The visit of South Korean President Yoon Suk-yeol to China marks a significant shift in the trade dynamics between South Korea and China, as Korean companies seek new opportunities and markets amid changing trade structures [1][4] Group 1: Trade Dynamics - The scale of the economic delegation accompanying President Yoon is notable, with over 200 members, including leaders from major corporations like Samsung, SK Group, Hyundai, and LG [1] - In 2019, the bilateral trade volume between South Korea and China was $243.43 billion, with South Korea exporting $136.2 billion and importing $107.23 billion, resulting in a trade surplus of $28.97 billion [3] - By 2024, the bilateral trade volume is projected to reach $272.91 billion, reflecting a 2% increase, but a trade deficit of $6.83 billion is expected for the second consecutive year [3] Group 2: Structural Changes in Trade - The trade surplus that South Korea enjoyed with China has been disrupted, indicating a structural turning point in the economic relationship, moving away from a model where South Korea provided high-end intermediate goods while China handled manufacturing [4] - China's advancements in sectors like semiconductors and chemical materials have reduced its dependency on South Korean imports, altering the previously established trade dynamics [4] - The concentration of South Korea's exports in semiconductors and chemical products poses risks, as any downturn in these sectors could lead to significant trade reversals [4] Group 3: Future Cooperation and Risks - The visit is seen as an effort to establish a more predictable framework for Sino-Korean relations amid ongoing U.S.-China strategic competition, aiming for a new normal of "competitive, cooperative, and predictable" interactions [5][6] - There is a focus on potential cooperation in renewable energy, biotechnology, and other sectors, which could serve as new growth points for the bilateral relationship [6] - Effective communication at high levels is crucial to prevent irrational decoupling due to misjudgments or policy shifts, particularly in sensitive areas like semiconductors and core materials [6]