A Sign of Rapprochement
The Korea-China Business Conference will resume in three years after being suspended due to a conflict over the deployment of the Terminal High Altitude Area Defense (THAAD) system in Korea.
The Federation of Korean Industries (FKI) announced on Aug. 13 that the Korea-China Business Conference will be held in Jinan, Shandong Province of China on Oct. 29 and 30 with the attendance of business leaders from both countries. The conference had been held every year until 2016. Souring relations between the two countries over the THAAD incident scratched off the meeting in 2017 and 2018.
Shandong Province is the most preferred investment destination in China for Korean companies.
About 30 business leaders from major Korean companies including FKI chairman Huh Chang-soo will attend the conference.
Some affiliates of the four biggest Korean business groups that left the FKI are also expected to participate in the conference. From the Chinese side, VIPs including Wang Zhongyu, chairman of the China Enterprise Federation, will attend.
Korean business leaders will discuss trade and investment promotion, participation in infrastructure construction under the Belt and Road Initiative, and cooperation in new industries related with the Fourth Industrial Revolution.