China South Korea File photo:CGTN

Chinese Ambassador to South Korea Xing Haiming met with two South Korean officials on Monday, during which the two sides stressed carrying out practical cooperation in various fields, including semiconductors, as the US apparently seeks to disrupt such cooperation. 

Xing met with Yang Hyang-ja, a South Korean National Assembly member and the People Power Party's chairman of the Special Committee on Strengthening the Competitiveness of the Semiconductor Industry, during which the two exchanged views on practical cooperation in semiconductors and other fields, according to a statement on the official WeChat account of the Chinese Embassy in South Korea. 

Since the establishment of diplomatic relations between China and South Korea 30 years ago, bilateral practical cooperation in various fields has achieved fruitful results, bringing tangible benefits to both countries and peoples, Xing said. 

"China is willing to work with South Korea to adhere to the principle of a fair and just market, eliminate external interference, strengthen cooperation in semiconductors and other fields, and jointly maintain the stability of the global industrial chain and supply chain," Xing said.

Yang said during the meeting that the South Korean side attaches great importance to cooperation with the Chinese side in semiconductors and other fields, and hopes that the two sides will work with each other's advantages to carry out closer exchanges and cooperation.

Also on Monday, the Chinese envoy met with Trade Minister Ahn Duk-geun, during which the two exchanged views on further deepening bilateral economic and trade relations and other practical cooperation plans.

China is South Korea's most important economic and trade partner, and South Korea attaches great importance to developing economic and trade relations with China, Ahn said, expressing hope that the two sides will strengthen exchanges in the economic and trade mechanisms, enhance mutual trust, and effectively promote the further development of bilateral economic, trade and industrial cooperation.

The positive tone toward bilateral trade ties comes as South Korea is under US pressure to join the US-led semiconductor alliance "Chip 4" and IPEF, the Yonhap News Agency reported that President Yoon Suk-yeol has called for "active diplomacy" with China to ensure there are no misunderstandings regarding its possible participation.

Yoon's prudence on the topic indicated South Korea's careful calculations over gains, if any, against losses from possible participation, as South Korea's export-centered economy would be hit hard if it blindly joins the US' technology suppression of China, South Korea's largest trading partner, observers told the Global Times.

The US first made the proposal to South Korea, Japan and the island of Taiwan to establish a strategic alliance of global chip powerhouses in March. It is largely seen as a move to counter the Chinese mainland's growing influence in the global chip market.

The US-led chip alliance should promote the stability of global supply chains, rather than harming or causing market fragmentation, China's Commerce Ministry said on Thursday.

Stepping up cooperation across supply chains is beneficial to the entire world, Shu Jueting, ministry spokesperson, told an online media conference, adding that any framework should not be designed to discriminate against or exclude others.

China and South Korea are important trading partners for each other. In 2021, bilateral trade exceeded $360 billion, or 72 times the level when diplomatic relations were established 30 years ago. From January to May this year, bilateral trade reached $152.26 billion, a year-on-year increase of 10.2 percent.