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Korea and China discuss jointly addressing global uncertainties at ministerial meeting

Updated: 2013-12-31 AM 6:28:09 (KST)
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Korean Finance Minister Hyun Oh-seok and his Chinese counterpart Xu Shaoshi came away from Monday's meeting with an agreement to form a unified front against the economic uncertainties in emerging markets and work together in addressing Washington's move to taper its quantitative easing.
Korea's Finance Ministry said the two sides proposed boosting bilateral exchanges to develop the service sector, which is a key to boosting domestic demand and achieving sustainable growth.
Setting up joint venture businesses between both countries was also discussed.
Climate change was also on the table, with Seoul and Beijing agreeing to increase cooperation on green technology and industry, energy conservation and environmental protection.
Korea and China have held regular economic meetings since 1999 as part of efforts to increase cooperation.
Monday's meeting was the 12th of its kind, and the first since the two nations' respective governments took power this year.
Both sides agreed to meet again in China in 2014.
Ji Myung-kil, Arirang News.

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