SEOUL, Oct. 19 (Yonhap) — South Korea’s finance minister has asserted that the country will continue its mutually beneficial economic partnership with China, in response to criticism that the Yoon Suk Yeol administration is allegedly disregarding the key partner in the face of the Sino-U.S. rivalry.
Choo Kyung-ho made the comments during a parliamentary audit of his ministry, when Rep. Jung Tae-ho of the Democratic Party raised concerns that the Yoon government “appears to have given up on the Chinese market” while strengthening ties with the United States and Japan.
“I would like to stress again that we are not pursuing any ‘desinicization’ stance. China is a major player in our economy, and the two countries will continue to collaborate in a way that is advantageous to both,” Choo said.
In June 2022, Choi Sang-mok, senior presidential secretary for economic affairs, said that the era of South Korea profiting from its exports to China “has come to an end,” and the country must seek out alternative markets.
Government data showed that China remains South Korea’s top trading partner, with South Korean exports to the neighboring country reaching US$11 billion in September.
A file photo from September 7, 2023, shows South Korean President Yoon Suk Yeol (R) posing for a photo with Chinese Premier Li Qiang prior to their talks at the Jakarta Convention Center in Jakarta on the sidelines of a summit of the 10-member Association of Southeast Asian Nations. (Yonhap)
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