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  • Is the garlic return a normal occurrence or an isolated incident? A review of China-South Korea trade frictions

    Since the establishment of diplomatic relations between China and South Korea in 1992, the economic and trade cooperation between the two countries has developed rapidly. By the 20th anniversary of the establishment of diplomatic relations, bilateral trade between China and South Korea had grown from 5 billion USD to 256.3 billion USD in 2012, an increase of 50 times. At present, China has become South Korea's largest trading partner, largest export market and largest source of imports, while South Korea is China's third-largest trading partner and fifth-largest source of foreign investment. South Korean President Park Geun-hye said that China-South Korea trade volume could reach 300 billion USD in 2015. On November 10 last year, Chinese President Xi Jinping and South Korean President Park Geun-hye held a meeting in Beijing, and the two sides jointly confirmed the conclusion of substantive negotiations on the China-South Korea Free Trade Area, meaning that China-South Korea trade is about to open a new chapter.