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Faltering Korea-China relations with the emergence of the G2 era

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  • Faltering Korea-China relations with the emergence of the G2 era
  • Lee, Jung-Nam
  • East Asia Institute


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Title Faltering Korea-China relations with the emergence of the G2 era
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Material Type Articles
Author(English)

Lee, Jung-Nam

Publisher

Seoul:East Asia Institute

Date 2012-10
Series Title; No EAI Asia Security Initiative Working Paper / 26
Pages 35
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < International Politics
Holding East Asia Institute

Abstract

Since diplomatic relations were established between Korea and China in 1992, the relationship between the two countries has developed rapidly, according to various numerical statistics. In terms of economic exchanges, the countries’ trade volume—which totaled no more than 6.4 billion USD in 1992—increased to 240 billion USD in 2011, multiplying 37 times over and exceeding Korea’s aggregate trade volume with the U.S. and Japan. Last year, the volume of direct investment flowing from Korea to China amounted to 50 billion USD, with the number of Korean firms in China reaching 50,000. China has become Korea’s top economic partner, and according to the 2011 figures, Korea is now China’s third-largest economic partner after Japan and the United States (U.S.), although the figures exclude Hong Kong (Cheong 2012). The number of people travelling between the two countries has also increased apace: from 130,000 people in 1992 to 6,410,000 people in 2011, recording a remarkable 49-fold growth. A total of 130,000 people currently participate in student exchange programs (64,000 Chinese students in Korea and 68,000 Korean students in China) and direct flights run between the two countries 837 times a week (Kang 2012, 5). (The rest omitted)