China to Send Investment Survey Team to Saemangeum RE100 Industrial Complex

China is set to dispatch an investment survey team to South Korea's Saemangeum RE100 industrial complex, signaling a potential boost for the renewable energy initiative. This decision stems from discussions held between South Korean President Lee Jae-myung and Chinese President Xi Jinping during a previous summit, where they explored collaboration opportunities for the complex.

The commitment was solidified during the 7th South Korea-China FTA Joint Committee meeting in Beijing. Yeo Han-koo, South Korea's trade negotiator, led the government delegation. The meeting addressed various trade matters, including tariffs, trade technical barriers, intellectual property rights, and economic cooperation.

Beyond the industrial complex, both nations agreed to enhance collaboration on intellectual property rights. This includes addressing the ongoing issue of illegal online distribution of South Korean content in China. Despite the "Hallyu ban" (Korean Wave ban) that has restricted access to Korean content for a decade, the online piracy of K-pop, dramas, and films continues.

Furthermore, the agreement includes the introduction of an authorized exporter origin self-certification system. This system aims to simplify customs procedures for South Korean exporters, with an estimated 6,000 companies expected to benefit from reduced time and cost burdens.

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Saemangeum was originally a region where we agreed to cross-invest with China. I told President Xi about this when I went to China, and he said he would actively review it.