Ji-hye Yang, Gounee Yang

Global Economic News

SOUTH KOREA wants to cooperate with eastern China’s Jiangsu Province in urea supply and electricity use, according to an economic meeting held in Seoul on Monday.

Jiangsu is South Korea’s largest trading and investing region in China, accounting for 26 percent of South Korea-China trade and 24 percent of South Korea’s investment in China.

In 2020, the trade volume between South Korea and China increased 1.65 percent year on year to US$69.96 billion and this year, it reached US$67.24 billion in the first three quarters, up 17.2 percent year on year.

South Korea has held regular economic cooperation meeting with Jiangsu to strengthen economic and trade cooperation between South Korea and Jiangsu since May 2016.