One out of every 10 Chinese imports come from Korea
One out of every 10 Chinese imports come from Korea
  • Yoo heui-jin
  • 승인 2017.01.31 16:52
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In latest sign of deeping bilateral economic ties

SEOUL, Jan. 31 (Yonhap) -- One out of every 10 imports in the Chinese markets came from South Korea last year, data showed Tuesday, in the latest sign of deepening economic ties between the two neighbors.

China imported South Korean goods worth US$158.9 billion last year, the Korea International Trade Association said, citing China's customs data. It means that South Korean products accounted for 10 percent of China's total imports last year.

Separately, China's commerce ministry said China attracted $113.8 billion in direct investments in the first 11 months of 2016.

South Korea poured $4.37 billion into China in direct investments during the cited period, making Seoul the second-largest investor behind Singapore with $5.46 billion.

China fought on North Korea's side against South Korea and the U.S.-led U.N. forces in the 1950-53 Korean War but has been economically drawn to South Korea in recent decades after Seoul and Beijing established diplomatic relations in 1992.

China is now South Korea's largest trading partner, with two-way trade reaching US$211.3 billion in 2016. Millions of people travel between the two countries annually.

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