Sino-Korean Interdependence

President of Republic of Korea, Park Geun-hye, warmly welcomed Chinese Prime Minister, Li Keqiang, in her official house called Blue House on Saturday. They agreed on promoting bilateral economic cooperation with a possibility of establishing new trade zone in East Asia. In the eve of trilateral summit meeting including Japanese Prime Minister, Shinzo Abe, Park and Li exhibited their close relationship on the continent.

At the beginning of the meeting, both leaders emphasized their willingness of deepening economic ties between the two nations. “I want to develop the strategic and cooperative partnership in terms of middle and long time,” told Park to the reporters. “I want to raise the cooperation in every aspect of both nations up to a new relationship,” replied Li. The meeting continued for one hour and forty minutes, extended by forty minutes from planned schedule.

Both leaders agreed on accelerating the process for Regional Comprehensive Economic Partnership, in which sixteen Asian nations are involved. They also promised their effort to activate China-South Korea Free Trade Agreement within this year. Regarding Asia Infrastructure Investment Bank, Chinese-led economic cooperation framework in Asia in which ROK is participated, two leaders reconfirmed that they would be reinforcing partnership for investment in the third parties.

They exchanged seventeen bilateral documents for vitalization of trade and investment, and memorandums on science and technology or environment. With agreement for protecting panda, China offered presenting one panda for a zoo in South Korea as early as early next year. Panda still is a major diplomatic tool of China.

Those bilateral agreements had one common concept: against American-led order in Asia. RCEP is a free trade framework countering Trans-Pacific Partnership, which has been conceived as a containment policy against China. AIIB is a newly launched monetary system against International Monetary Fund, which includes Asian Development Bank. China has been energetic in inviting ROK to Chinese side to counter those international pressures.

To the close tie between China and South Korea, Abe seems to be powerless in the trilateral meeting. Bogged down with his personal political agenda of reinterpreting history, it is likely that isolation of Japan in Asian nations will be apparent. The people in South Korea have been protesting Abe’s visit to their hometown, denouncing his attitude on comfort woman issue. As one of the worst scenario, he can be labeled as one of the most disgusting guys during his stay in Seoul.