2025.09.24
Distinguished organizers, Former Speaker Kim Jin-pyo, Minister Fang Kun, and honored guests:
Good afternoon. I am Ren Libo, Founder and President of Grandview Institution, a Chinese independent think tank. It is a great honor to speak here today.
Today, we are gathered with leading Korean enterprises and a selection of outstanding Chinese companies, all of whom are concerned with economic development. I will speak directly and share one observation: both the Chinese and Korean economies are at a critical stage of uphill development.
There are three main reasons for this:
First, technologies such as artificial intelligence, semiconductors, quantum computing, and new energy are profoundly reshaping human lifestyles and production methods. Both China and Korea are climbing the key technology curve of the Fourth Industrial Revolution. Industries in both countries face competitive pressure from the United States, and neither wants to fall behind or be constrained by international competition.
Second, the traditional global markets led by the U.S. and Europe are relatively shrinking, while emerging southern markets are rapidly expanding. The Belt and Road markets, ASEAN, the Middle East, Africa, and Latin America are becoming more dynamic and capacious. Both countries face opportunities arising from structural changes in overseas markets, as well as structural risks under intensified international competition.
Third, global factors such as the COVID-19 pandemic and the Russia–Ukraine war have created enormous pressure on China and Korea, leading to insufficient internal economic momentum and relatively weakened external demand. Building strong regional economic cooperation mechanisms, forming alliances to face global challenges together, and jointly venturing into international markets are essential strategies. China has been strengthening efforts within the SCO and BRICS frameworks, but even more attention is paid to the potential of a China–Japan–Korea Free Trade Area, which represents shared interests and shared responsibility in leading Asia’s development.
A Chinese proverb says: “Brothers climb the mountain, each striving on his own.” Another says: “Brothers united, their strength can cut through metal.” Faced with this critical economic climb, should China and Korea strive individually, or advance united as brothers?
China has clearly provided the answer. Following the inauguration of President Lee Jae-myung’s new administration, China is actively and prudently seeking to improve relations with Korea.
If we use a metaphor of an airplane to describe China’s diplomacy, it becomes clear why China wishes to improve China–Korea relations. The fuselage represents the core of foreign relations—China–U.S. relations. The wings provide momentum: one wing represents China–Korea, China–Japan, and China–Europe relations; the other represents China–Africa, China–Latin America, and China–Middle East relations. The tail acts as the stabilizer, namely China’s peripheral relations, including China–Russia, China–Central Asia, and China–ASEAN, reflecting the principle of “periphery first” in Chinese diplomacy.
From my observation, China’s diplomatic goals are twofold:
1. Maintain fuselage stability, i.e., pursue a relative stability in China–U.S. relations where competition and cooperation coexist, crises can be prevented and managed, and risks are predictable and controllable.
2. Achieve balanced wings, securing development momentum. However, due to the pandemic and the Russia–Ukraine war, China–Korea, China–Japan, and China–Europe relations have suffered setbacks, and this wing’s momentum is insufficient. The next phase of Chinese diplomacy will focus on restoring and strengthening this wing—with cooperation clearly outweighing confrontation. By identifying common interests, conducting joint actions, and refining shared values, China seeks to expand and deepen cooperation.
Based on this analysis, the recovery and growth of China–Korea economic relations is increasingly promising. Enterprises in both countries should take initiative, face challenges, and seize opportunities. The term ESG embodies innovation, coordination, green development, openness, and sharing. If Korean enterprises act in the interest of both their companies and national welfare, setting aside ideological biases, alliance constraints, and zero-sum thinking, there is vast potential for China–Korea cooperation in ESG sectors.
Grandview Institution has been established for over twelve years. In research and exchanges, we never shy away from contradictions or conflicts, but we prioritize shared interests, joint actions, and common values. We firmly believe that continuous engagement and effort can generate positive energy in a world full of disputes. As an independent Chinese think tank, we are eager to provide a high-quality public diplomacy platform, facilitating exchanges and cooperation between Chinese and Korean enterprises.
Specifically, Grandview Institution is prepared to offer the following support:
First, we can conduct forward-looking and strategic research projects, for example, analyzing decreasing economic complementarity and rising competition between China and Korea. Joint research with Korean enterprises and think tanks could explore “managed trade” approaches to balance competition and enhance complementarity. We can also study ways to promote cooperation in third-party markets, including Belt and Road markets, southern emerging markets, and Russia’s Far East, emphasizing co-consultation, co-construction, and shared benefits.
Second, we can provide high-quality platforms for China–Korea enterprise exchanges, organizing dialogues, case studies, and government–enterprise exchanges by key industries, markets, or regions. Special attention will be given to young entrepreneurs, fostering supply–demand alignment and resource exchange. Grandview can facilitate visits and exchanges between Chinese and Korean companies, providing full support services.
Third, we can offer high-quality training programs for enterprises. Leveraging Grandview’s policy research and international exchange experience, our team of senior experts can deliver customized static research services for large and small enterprises. Additionally, enterprises can participate in dynamic research opportunities, joining Grandview-led exchanges with global policymakers and top-tier think tanks, gaining insights into international trends, policy directions, security risks, and industry opportunities.
We look forward to working with our Korean partners to promote enterprise and cultural exchanges, contributing to the further improvement of China–Korea relations.