South Korea and China opened a joint research and development center in Beijing Tuesday to forge closer cooperation in industrial and information technology.
The new center is aimed at helping private companies from the two nations make inroads into the Korean or the Chinese market through technology cooperation, the South Korean Embassy said in a statement.
The center is jointly set up by South Korea’s Ministry of Trade, Industry and Energy and China’s Ministry of Science and Technology.
South Korea and China have been stepping up a range of economic cooperation projects as they are set to sign a bilateral free trade agreement.
After declaring the “substantial conclusion” of their free trade talks last November, South Korea and China are expected to formally sign the deal within the first half of 2015, in a move that will further deepen their economic ties. (Yonhap)
