S.Korea tells China ambassador it hopes for continued economic cooperation (updated)

Netmarble

19/05/2023 02:48

(Updates after meeting ended; Adds stock prices at paragraph 6)
    By Choonsik Yoo
       SEOUL, May 19 (Reuters) - South Korea's finance minister
on Friday met the Chinese ambassador and discussed economic
cooperation, as diplomatic tensions with Beijing put an
additional dent on the already sluggish economy.
        The ministry said in a short message after the 30-minute
meeting that Minister Choo Kyung-ho expressed his hopes for
continued economic cooperation between the two countries on the
basis of reciprocity and mutual respect.
  
        Choo, South Korea's highest economic and financial
policymaker, also asked for support for preparations ahead of a
bilateral economic ministers' meeting this year in Seoul, the
statement added.
  
        The ministry did not disclose remarks by Ambassador Xing
Haiming during the meeting, which was held after South Korea's
ambassador to Washington said early this month Seoul would soon
pursue senior-level engagements with Beijing.
    The heightened diplomatic tensions, mainly over regional
geopolitical issues including affairs surrounding China's policy
toward Taiwan, may hurt a South Korean economy already hit by a
slump in exports.
    Share prices of South Korean companies with exposure to
China business rose on Friday, with media content producer CJ
ENM  035760.KQ  jumping 2.5% and online game developer Netmarble
 251270.KS  rising 1.5%.

 (Reporting by Choonsik Yoo; Editing by Jacqueline Wong and
Gerry Doyle)
 ((choonsik.yoo@thomsonreuters.com; +822 6936 1464;))