Core Points - The 12th round of negotiations for the second phase of the China-South Korea Free Trade Agreement (FTA) took place in Seoul from June 23 to 27, 2025, focusing on cross-border service trade, investment, financial services, and negative list market access [1] - The China-South Korea FTA, which came into effect on December 20, 2015, has significantly promoted trade and investment growth between the two countries [1] - Both parties are committed to achieving a high level of liberalization in service trade and investment through the second phase of negotiations [1]

Group 1 - The fifth Korea (Shandong) Import Goods Expo took place from May 23 to 26 in Weihai, showcasing 11 companies from Incheon with products ranging from rice cakes to natural cosmetics and kitchenware, resulting in over 150 business negotiations and an intended trade volume of 17.5 million yuan [1][2] - The Incheon Economic and Trade Representative Office, established in Weihai in 2016, operated a 198 square meter booth, promoting products, investment environment, and cultural experiences, particularly highlighting Korean food experiences that attracted significant visitor interest [1][2] - To commemorate the 10th anniversary of the China-Korea Free Trade Agreement, a B2B negotiation meeting was held, facilitating further business discussions and potential market entry for Incheon companies into China [1][2] Group 2 - A tripartite memorandum of understanding (MOU) was signed between the Incheon Economic and Trade Representative Office, the Korea Institute of Production Technology, and the Weihai Foreign Investment Enterprises Association to enhance technical cooperation and collaborative business development for Incheon companies [2] - Incheon companies expressed optimism about entering the Chinese market, with active discussions during the expo indicating strong potential for future exports [2] - Incheon city plans to leverage the expo as a catalyst for expanding market access and strengthening its brand globally, focusing on overseas marketing initiatives [2]

Group 1 - The core viewpoint emphasizes the importance of China-Korea economic cooperation, highlighting that bilateral trade is projected to reach $328.08 billion in 2024, reflecting a growth of 5.6% [1] - China has been Korea's largest trading partner for 21 consecutive years, while Korea has regained its position as China's second-largest trading partner [1] - The integration of industrial and supply chains between China and Korea has created a cooperative framework characterized by mutual dependence and shared destiny [1] Group 2 - Korean companies are encouraged to adopt a rational perspective on the Chinese market, moving away from outdated notions of quick profits and recognizing the opportunities presented by China's ongoing economic reforms and consumption upgrades [2] - There is a call for both countries to explore new areas of cooperation, leveraging their respective advantages in sectors such as artificial intelligence, green development, high-end manufacturing, biomedicine, low-altitude economy, and digital economy [2] - The stability of the industrial and supply chains between China and Korea is crucial, with a need to promote trade and investment liberalization while addressing emerging challenges [2] Group 3 - Progress in the negotiations for the China-Korea Free Trade Agreement (FTA) is being pursued, with a focus on investment and services in the second phase of discussions [3] - The historical contributions of Korean entrepreneurs to the economic development of both countries are acknowledged, with an emphasis on the need for a long-term, global perspective on China-Korea cooperation [3] - The Korea-China Economic Association is recognized for its role in fostering friendly relations and facilitating practical cooperation between businesses in both countries [3]