Chinese and South Korean companies signed nine cooperation agreements, authorities said on Monday, during a state visit by South Korean President Lee Jae Myung with Chinese President Xi Jinping in Beijing, their second meeting in just two months.
Lee's visit to China's capital is the first since he took office in June and comes amid ratcheting global tensions after North Korea launched ballistic missiles and the US attack on Venezuela.
The unusually short interval between Xi and Lee's meetings signals China's keen interest in boosting economic collaboration and tourism with its neighbor as its relations with Japan have sunk to the lowest point in years, analysts say.
South Korea's Trade Ministry announced the nine agreements on Monday and said Alibaba International, Lenovo and South Korean retailer Shinsegae were among the companies that signed deals.
Lee arrived for his four-day state visit on Sunday, along with a delegation of more than 200 South Korean business leaders including Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, and Hyundai Motor Group Executive Chair Euisun Chung.
Lee is aiming to promote peace on the Korean Peninsula, though his visit to Beijing comes as North Korea test fired hypersonic missiles on Sunday, with leader Kim Jong Un citing the need for Pyongyang to maintain a powerful nuclear deterrent in its first ballistic missile test of the year.
South Korea and China need to expand economic cooperation in artificial intelligence, Lee said, and could also collaborate in consumer goods such as household goods, beauty, food products and cultural content such as movies, music, games and sports.
However, South Korean Presidential Chief of Staff Kang Hoon-sik said in a radio interview on Monday that Beijing was unlikely to lift its unofficial ban on Korean culture anytime soon.
China and South Korea are expected to discuss matters such as supply chain investment, the digital economy and cultural exchanges during Lee's visit, China's state broadcaster CCTV said.
South Korea and Beijing's ties have warmed as China and Japan navigate a diplomatic spat.
Beijing was incensed when Japanese Prime Minister Sanae Takaichi suggested in November that Tokyo could take military action if Beijing attacked Taiwan. China claims the democratically governed island as its own, an assertion rejected by Taiwan's government.
