China - Korea

Chronology from Oct 2007 to Dec 2007

: South Korea’s Hana Bank opens its first subsidiary in China in an attempt to develop a retail network in Northeastern China.

: PRC Ambassador to the DPRK Liu Xiaoming hosts a New Year’s reception for leading DPRK government officials including DPRK Supreme People’s Assembly Presidium Vice President Yang Hyong-sop.

: China and South Korea open military hotlines between their navies and air forces.

: South Korean President-elect Lee Myung-bak receives a congratulatory message from PRC Ambassador Ning Fukui and affirms his willingness to “upgrade” Korea-China economic relations.

: Six-Party Talks PRC lead negotiator and Vice Minister Wu Dawei visits Pyongyang for discussions on progress in disabling North Korea’s Yongbyon facilities.

: The Korea Times reports that the Korea Institute of Finance has projected that China is emerging as a “new buying power” in global equity markets.  The Financial Supervisory Service reports an almost 30-fold increase in Chinese investments to 73.1 billion won from 2.5 billion won during the past year.

: MBC reports that former Hyundai Motor employees were detained on charges of providing proprietary automatic transmission technology to a Chinese company in 2005.

: SK Telecom announces that its Chinese joint venture UNISK launched a mobile telephone newsletter service in partnership with China’s major state-run newspaper, The People’s Daily.

: Six-Party Talks Economic and Energy Aid Working Group meets in Beijing.

: Dongfeng Yueda Kia Motor Company opens second factory in Yenching, Jiangsu province.  The new plant cost $800 million and has an annual production capacity of 300,000 units.

: Korea Electric Power Corporation announces the launch of Gemeng International Energy Company, Ltd., a joint venture with Shanxi provinces SIEG and Deutsche Bank to acquire and manage Chinese coal mines, plants, and resources.

: Samsung Electronics Company announces that it will be a sponsor of the 2008 Beijing Paralympic Games.

: Korean Chamber of Commerce and Industry releases report criticizing South Korean failure to compete with China in developing natural resources in North Korea.

: Roh Moo-hyun participates in the South Korea-China-Japan summit held on the sidelines of the ASEAN Plus Three meeting in Singapore.  Roh also holds bilateral discussions with PRC Premier Wen Jiabao.

: KOTRA releases results of a survey showing 14 companies, or almost 10 percent of survey respondents among Korean companies operating in China, are seeking opportunities to relocate or return to Korea.

: Korea’s Financial Supervisory Service warns that South Korean local retail investors are overly exposed to China-related equity risks.

: Woori Bank launches a Chinese subsidiary in an effort to provide retail-banking services in major Chinese cities.

: Asiana Airlines launches new twice-a-week service from Cheongju, Chungcheong province to Beijing.

: CCP Central Committee Publicity Department head Liu Yunshan visits Pyongyang and meets Kim Jong-il to deliver a verbal message from Hu Jintao and to provide information on the 17th CPC Party Congress.

: Air service opens between Seoul’s Gimpo and Shanghai’s Hongqiao airports.

: The Asset Management Association of Korea reports a dramatic drop of capital inflows into Chinese equity funds from around 400 billion won during the first three weeks of October to less than 100 billion won, reflecting greater caution among Koreans about Chinese equity risks.

: The Seoul Central Prosecutors’ Office announces the arrest of six drug traffickers who used Korean ports as a transit point for methamphetamine from China to Japan.

: Two former POSCO employees are arrested for stealing steel processing technologies and selling them to a Chinese competitor.

: The ROK protests China’s use of force against South Korean diplomats while arresting North Korean defectors at an international school in Beijing.

: Chinese Foreign Ministry spokesman Liu Jianchao expresses China’s willingness to join peace talks to replace the military armistice and end the Korean War.

Date Range