SCMP China reports: Scholars urge a pivot to shared AI and EV standards and cooperation, while an upgraded China-South Korea free-trade pact is deemed vital China’s rapid technological gains and aggressive pricing are making it increasingly difficult for South Korean firms to find profitable areas of industrial synergy with their Chinese counterparts, according to experts. Speakers at a recent forum in Beijing urged firms from both countries to pivot towards building more interdependent ecosystems in high-growth sectors such as batteries and artificial intelligence, while also calling for the advancement of negotiations towards an upgraded free-trade agreement.
“Industries in each country must re-evaluate their core strengths to build a synergistic, interdependent global supply chain,” Seo Bong-kyo, head of Samsung Global Research China, said on Thursday during a seminar co-hosted by Renmin University and the South Korean embassy. Seo argued that both nations should look beyond conventional rivalry, according to an event summary published by the Chinese organiser. “China’s push to expand domestic demand offers a new opening for South Korean firms to enter high-value markets,” he was quoted as saying.
Background
Economic ties between Beijing and Seoul – a key US ally in East Asia – have slowly recovered from a protracted downturn following the 2017 deployment of an American anti-ballistic missile defence system known as Terminal High Altitude Area Defence (THAAD).
Originally reported by SCMP China. This story has been edited and re-presented by BRIC Team.
