For Expanded
Cooperation
with China

"Experience China in Seoul 2006,"the biggest Chinese event, closes its 10-day run

China's biggest cultural event, "Experience China in Seoul 2006"closed its 10-day run on Sept. 30 in Seoul, attracting many viewers to its variety of programs designed to boost friendship between Korea and China.
The Chinese government expressed a deep appreciation from the Korean side for the success of the cultural exchange event, which took place in a number of notable facilities in Seoul including the Seoul Main Olympic Stadium and the National Theater. Korea and China agreed to the cultural exchange event in each other's country during President Hu Jintao's visit to Seoul last year.
Korea will hold "Understand Korea"event in Beijing next year on the occasion of the 15-year anniversary of the diplomatic resumption with China with the blessing of the Chinese government.
The event's programs in the areas of culture, economy, and academics and others will be held in both Korea and China next year
The Chinese event this year has been able to deepen the Korean understanding of China, its closest neighbor, especially,
among the business people, financial leaders, and journalists by exchanging ideas at various forums held during the 10-day event creating synergistic effect with their Chinese counterparts.
In the economic forum sponsored by the Korea International Trade Association, participants from Korea and China discussed such pertinent issues as the evaluation of yuan and the financial stability in Asia-Pacific, the supplementary development of Korean and Chinese economies and regional advantage of Korea and China trade and mutual cooperation between Korea and China in the exploration of natural resources.
At the forum, Zhang Haichao, vice chairman of SINOPEC, said his company welcomes joint cooperation with Korean firms in its areas of operations extending from the exploration of oil and gas, the trade of crude oil, petrochemical product production technology, and corporate management, raising the use of raw material, the development of alternative energy, and the production process service, among other areas. He recalled that SINOPEC forged cooperative tie-ups with a number of Korean companies in the related areas of its operation from long time ago and has been able to achieve great results through extensive cooperation with them in recent years. In 2003, SINOPEC and SK Corp. set up a joint-venture firm in China, which was followed by another joint venture firm with SK Corp in December, last year, in the areas of oil and gas exploration, trade of crude oil, lube oil production, and petrochemical products logistics and marketing, among others. The two partners have also been exchanging their officers to boost the cooperation between the two companies, which is expected to step up the economic growth in the two countries, he said.
KITA Chairman Lee Hee-beom, in his congratulatory speech, said trade between Korea and China has a lot of room to grow further in light of their geographical proximity, complementary nature of their economies and closeness of sentiments and the two neighbors should cooperate closely to achieve $200 billion in bilateral trade by 2012 as called for during the summit between Presidents Roh Moo-hyun and Hu Jintao last year.
Kim Kwang-sup, head of the oil exploration headquarters at the Korea National Oil Corp., called for cooperation with China for the development of new oil supply sources, the mutual development of oil in the Yellow Sea and the cooperation in the international storage of oil, outlining the area of possible cooperation in oil business between Korea and China.
Qian Shaoqian, vice minister of the State Council Information Office, said the upcoming Beijing Olympics 2008 and Shanghai Expo 2010 would benefit not only China, but also Korea and two countries should seek common development under a win-win strategy.
For programs designed to boost understanding and friendship between Korea and China held during the event including a photo exhibition, and song and dance performances by the Sorim Monk Dance Troupe and the Tibetan Folk Music and Dance Team, about 15,000 local people watched them nw

Officials and dignitaries at the opening of "Experience, China, 2006"in Seoul Sept. 20.