Beijing: South Korean President Lee Jae Myung said on Monday that his country and China need to expand cooperation in the fields of artificial intelligence (AI) and cultural products, noting such areas of cooperation would serve as a new breakthrough in promoting bilateral trade.

According to Qatar News Agency, South Korea's news agency, Lee emphasized that the Republic of Korea and China are like ships sailing on the same sea in the same direction. He highlighted how the two countries have supported each other's growth through interconnected industrial supply chains, contributing significantly to the global economy. Lee made these remarks at a business forum attended by top executives from major companies of both nations.

Lee pointed out the necessity of charting a new path due to the rapidly changing global trade environment. He noted the fast-paced technological evolution and the increasing unpredictability of supply chains. "If we rely only on inertia, we could miss important turning points," Lee remarked, stressing the importance of adapting to these changes.

He further pointed out that annual bilateral trade has been stagnant at around US$300 billion, which underscores the need to explore new growth engines in cutting-edge technologies and cultural content. "We need to forge a new level of cooperation through future technologies, like AI, which can deepen collaboration across both manufacturing and services," he added.

The forum was part of Lee's state visit to China, during which South Korea aims to broaden and deepen economic cooperation in key sectors such as semiconductors, batteries, and emerging business opportunities in culture and other industries.