S.Korea, China fully restore relations — “Together toward a future of mutual prosperity”

President Lee Jae-myung said on November 2 that the recent Korea-China summit marked “a meaningful milestone in fully restoring bilateral relations and embarking once again on a path of practical cooperation and mutual prosperity as strategic partners.”

In a Facebook post titled “Korea and China: Moving Beyond History Toward the Future Together,” President Lee wrote that his first summit with Chinese President Xi Jinping helped “redefine the two countries’ relationship as a future-oriented partnership,” emphasizing the significance of the renewed dialogue.

President Lee held the meeting with President Xi on November 1 in Gyeongju on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. It was the first visit to Korea by a Chinese head of state in 11 years.

He noted, “President Xi’s description of our nations as ‘close neighbors who cannot move away and inseparable partners in cooperation’ deeply resonated with me. It reflects the essence of the long-standing trust and exchanges between our two countries that transcend differences in political systems or ideologies.”

Acknowledging past challenges, Lee said that “despite various difficulties, the deep friendship and cooperation between the two nations have remained steadfast.” He added that both sides agreed to institutionalize high-level communication channels and expand people-to-people and regional exchanges.

Highlighting tangible cooperation, Lee stated, “Above all, based on our shared understanding that ‘the livelihood of the people comes first,’ we will produce practical outcomes that our citizens can truly feel.” He pointed to the ₩70 trillion (approximately US$50 billion) currency swap agreement, aimed at strengthening financial stability and trade, and the acceleration of ongoing FTA service and investment negotiations to further solidify the institutional framework of cooperation.

“Since President Xi personally extended an invitation,” Lee continued, “I look forward to visiting China in the near future and further developing our relationship into that of even closer neighbors.” He also expressed deep gratitude to Xi for visiting Korea as a state guest for the first time in over a decade.

President Lee’s message was also shared in Chinese.