Korean and Chinese firms deepen cooperation in industrial, supply chains

Enterprises from the Republic of Korea (ROK) and China have coordinated and collaborated in the industrial and supply chains, continuously injecting impetus into regional sustainable development, and epitomizing an important microcosm of cooperation in the Asia-Pacific region.

Han Jang Ho runs a small and medium-sized enterprise in Gyeonggi Province, the ROK. The enterprise mainly produces components such as backlight display modules, light guide plates, and optical materials for televisions that are exported to Europe and the United States. Mr. Han said that almost all the raw materials the company needs come from China, and it has been cooperating with many Chinese suppliers for more than fifteen years.

"In terms of quality, the average defect rate of the raw materials we purchase [from Chinese enterprises] is less than 1 percent after one month of testing. We are very satisfied with this. Now we are collaborating with Chinese enterprises and our company can grow and develop together in such an environment," said Han, general manager of the Korean company.

In 2024, trade between China and the ROK grew to over 328.08 billion U.S. dollars, up 5.6 percent year on year. China remained the ROK's largest trading partner for 21 consecutive years, while the ROK rose to become China's second-largest trading partner.

The industrial and supply chains of the two countries are deeply integrated. Reports from the Export-Import Bank of Korea and the Korea Institute for Industrial Economics and Trade show that China and the ROK have formed a high degree of complementarity in key industrial chain links such as semiconductors and batteries. Some core raw materials in the ROK still mainly rely on imports from China, while Chinese enterprises are also continuously expanding the fields of high-end manufacturing and technological innovation in cooperation with the ROK side.

"China's science and technology have achieved considerable development, especially in fields such as robotics, where it possesses world-class technological strength. The ROK and China are very important economic partners. Although there are more competitive factors nowadays, there are still many areas where they can cooperate with each other. Only in this way can we promote a future-oriented and sustainable world that we pursue," said Kang Jun Young, head of the Research Center for International Area Studies under the Hankuk University of Foreign Studies.

Since the China-South Korea Free Trade Agreement came into effect in 2015, trade between the two countries has continued to grow, driving a significant expansion of investment and industrial cooperation. As of September 2024, nearly 29,000 enterprises from the ROK have entered the Chinese market, according to data from the Export-Import Bank of Korea.

Korean and Chinese firms deepen cooperation in industrial, supply chains

Chinese spacecraft developers have accelerated development of the spacecraft for the country's Shenzhou-23 crewed spaceflight mission by five months — moving its launch from the original schedule in October to late May — achieving greater efficiency without compromising safety or reliability.

According to He Yu, general commander of China's manned spacecraft project of China Aerospace Science and Technology Corporation, the accelerated development began shortly after the emergency launch readiness of the Shenzhou-22 last November.

"We have accelerated the development of the Shenzhou-23 spacecraft. It was originally planned for launch in late October, but has now been moved up to late May. In the six months since last November, we have gained five months of progress. This means the pace of work has been quickened by nearly one time," He said.

He further explained that a series of measures to ensure mission success have been adopted alongside the accelerated development, adding multiple layers of assurance.

"We have continued the proven measures that have ensured success in the past, which are fundamentally based on a sound product assurance system and strict process control. We have maintained high-quality assembly operations, continued to implement efficient and high-quality automated testing procedures, adopted a specialized flight control model, and maintained a full-process quality confirmation system to ensure reliability and safety of the product," He said.

The Shenzhou-23 crewed spaceship is scheduled to be launched at 23:08 Beijing time (15:08 GMT) on Sunday from the Jiuquan Satellite Launch Center in northwest China.

Chinese astronauts Zhu Yangzhu, Zhang Zhiyuan and Lai Ka-ying will carry out the Shenzhou-23 crewed spaceflight mission, and Zhu will be the commander, the China Manned Space Agency announced at a press conference on Saturday.

Chinese engineers move Shenzhou-23 manned spacecraft mission forward by 5 months while ensuring safety