KITA News and Reports
  • Digital Trade, Future of Korea-China Economic Exchange

    Digital Trade, Future of Korea-China Economic Exchange 

    -         KITA and Chinese International Electronic Commerce Center jointly held the ‘2017 China-South Korea Digital Trade Forum’ -



    The Korea International Trade Association (Chairman, Kim Young-joo) and the Chinese International Electronic Commerce Center (Director, Zhu Xiaoliang) held the ‘2017 China-South Korea Digital Trade Forum’ on December 12, Tuesday, in Beijing, China. This forum was designed to explore new ways to promote economic and trade cooperation between the two countries upon the summit meeting of South Korea and China and was attended by about 250 Korean and Chinese digital commerce businessmen.


    The president Han Jin-hyun of KTNET, a leading company in the automation of Korean trade and vice president Wang Xiao of NetEaseKaola, China's No.1 cross-border e-commerce company participated in the events as speakers and built a consensus on the need to boost e-commerce between China and Korea as well as to promote electronization of trade documents. In particular, as trading partners, the two countries discussed specific measures for implementation, including standardization of technologies and joint advancement into China’s one belt one road initiative by utilizing digital trade platforms. 




    Meanwhile, the Korea International Trade Association and Chinese International Electronic Commerce Center have signed a business agreement to promote cooperation in the field of e-commerce between the two countries. The two organizations have agreed to cooperate closely in holding e-commerce-related joint events (exhibitions, forums, etc.), promoting information exchange, linking platforms between e-commerce companies and operating e-commerce programs. 


    Kim Jeong-kwan, vice chairman of the Korea International Trade Association, said "We hope that this forum will be an opportunity to raise the level of bilateral economic cooperation to a new stage by establishing mutual partnership such as standardization of technology between Korea and China and joint entry into third countries."


    Director Zhu Xiaoliang of the Chinese International Electronic Commerce Center said "China and Korea have unlimited possibilities and potential for bilateral cooperation in the field of e-commerce." He also mentioned "In order to expand digital trade between the two countries in the future, we will promote a variety of projects.






    Korea’s e-commerce market is the seventh largest in the world and that of China is the largest in the world. The volume of B2C transactions between the two countries has increased by an average of 70 percent annually, and is expected to reach 2.5 billion dollars this year. On the other hand, both countries have been exchanging FTA certificates of origin electronically since last year. In order to simplify the trade procedure and reduce the cost, they need to expand the linkage of trade system such as customs clearance and payment. For this purpose, the two countries need to promote standardization of technology. In addition, there is a need to simplify transaction procedures such as payment and delivery to boost e-commerce transactions between the two countries, and to provide sufficient institutional measures such as consumer rights and protection of intellectual property rights.









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