Keynote Speech at the 2024 InChina Forum International Conference

Exploring New Paths for Korea-China Cooperation and Development

Dà jiā hǎo (Hello, everyone)! My name is Yoo Jeong-bok, 

and I am the Chairman of the Organizing Committee for the InChina Forum. 

First and foremost, I want to extend a warm welcome and express my heartfelt thanks 

to all of you who have traveled to Incheon—a city of cultural creation 

that is shaping the future of the Republic of Korea. 

We deeply appreciate the participation of Incheon’s 3 million residents, 

as well as 7 million overseas Koreans, making this a gathering of 10 million Koreans.

I’d like to begin with a quote from Confucius: 

“Is it not a joy to have friends come from afar? (有朋自遠方來 不亦樂乎).” 

This perfectly captures how I feel today. 

We are honored to welcome representatives from many Chinese cities 

and provinces who share a close relationship with Incheon. 

Please know that you are warmly and sincerely welcomed.

We also extend a special welcome and our gratitude to Deputy Chief 

and Minister Pang Kun from the Chinese Embassy 

in Korea for his continued support of the InChina Forum each year. 

I would like to thank the Vice Chairperson of the Incheon Metropolitan Council, 

the Chairman of the Incheon Chamber of Commerce and Industry, 

and the President of the Incheon Institute 

for their outstanding leadership in organizing this forum. 

In addition, I extend my sincere thanks to everyone 

from various institutions, universities, and research centers 

who have worked together to prepare this event.

I would also like to warmly welcome and express 

my deep appreciation to all the Incheon citizens 

and international participants joining us both in person and online. 

I am confident that today’s discussions and the ideas 

we share will open up new pathways for cooperation 

and development between Korea and China.

Incheon: 

At the Core of Mutual Trust and Cooperation Between Korea and China

Last year, at this same venue, I highlighted Incheon’s leadership in fostering 

future-oriented relations between Korea and China. 

Incheon hasn’t just offered empty slogans; we have taken real, concrete actions.

Even during the challenging period in 2017, 

when tensions were high because of the THAAD issue, 

I represented Korea at the Boao Forum, ensuring that the bonds of 

exchange and cooperation between our two nations remained strong. 

As pilot cities for the Korea-China Free Trade Agreement (FTA), 

Incheon and Weihai City have led the way with pioneering projects 

like integrated logistics to fully realize the benefits of this agreement.

Last year, I was the only city or provincial governor invited 

to the Summer Davos Forum held in Tianjin, China. 

We engaged in city diplomacy to shape the future of 

East Asia and explore new avenues for Korea-China relations. 

Incheon has successfully served as a vital bridge 

in Korea-China relations and as a leader in city diplomacy. 

Throughout these efforts, I have consistently emphasized 

the importance of mutual trust and cooperation.

Today, we gather under the theme of 

“New Korea-China Cooperation for a Shared Journey.” 

This journey is about more than just walking the same path; 

it’s about truly listening to each other and creating 

a new future together based on mutual respect and trust. 

Incheon has a history of over 1,600 years of exchanges with China. 

Just as we have continued city diplomacy with many Chinese cities to this day, 

we will continue to play a crucial role in Korea-China cooperation in the future.

Incheon’s Role in a Time of Transformation: 

Balanced, Creative, and Communicative Korea-China Relations

We are living in a time of significant transformation. 

Paradigm shifts are occurring across various fields, 

such as international relations, energy, and artificial intelligence.

In a world where international relations are increasingly complex 

and can differ by sector, we must carefully consider 

how best to collaborate with our neighboring country, China.

Since establishing diplomatic relations in 1992,

Korea and China have achieved remarkable progress together. 

Now, we must consider how to build on these achievements 

and determine the direction we should take moving forward. 

It’s time to break free from old frameworks and explore new ways of collaboration. 

In this context, Incheon’s role will become even more significant.

As a city that has led Korea-China exchanges, Incheon aims to once again guide the way 

by presenting a new direction for Korea-China cooperation. 

To achieve this, we must develop our relationship based on three key principles: 

balance and reciprocity, creativity and innovation, and communication and empathy. 

These principles also align with Incheon’s practical city diplomacy, 

which is central to our municipal administration.

Balance and Reciprocity

First, balance and reciprocity. 

In the evolving international order, Incheon must adopt a balanced approach 

to Korea-China relations and strengthen a cooperative model that benefits both sides. 

China remains a critical economic partner for Korea, and Incheon 

has played a pivotal role in fostering exchanges between the two countries. 

Through a cooperative approach based on mutual benefit (互惠互用), 

I am confident that Korea and China can work together to create a brighter future. 

This cooperation will extend beyond the economy, 

impacting various fields like technology,

 infrastructure, and human exchange, leading to sustainable growth for both nations.

Creativity and Innovation

The second principle I want to emphasize is creativity and innovation. 

The time has come for Korea and China to explore creative 

and innovative ways of cooperation beyond the existing models. 

China is rapidly advancing in industries where Korea has 

traditionally held a competitive edge, such as semiconductors, 

secondary batteries, and displays.

As economic cooperation between our two nations becomes 

increasingly competitive, Incheon’s role is also being affected. 

Our reliance on exports to China far exceeds the national average, 

with most of our exports consisting of 

semiconductors and electronic components. 

It’s vital that we keep a close eye on these trends.

However, I believe these changes present new opportunities for Incheon. 

Emerging industries like artificial intelligence, biotechnology, 

and green energy offer exciting possibilities for Korea-China cooperation. 

The Chinese government’s AI+ Strategy and its plans to develop 

the biotechnology industry present significant opportunities 

for further strengthening cooperation with Incheon.

Incheon is a global leader in the biotechnology industry, 

ranking first in the world in both biopharmaceutical 

production and the broader bio-ecosystem. 

We also have global competitiveness in semiconductor post-processing,

 allowing both countries to move forward together.

Incheon is ready to enhance its cooperation in exporting advanced 

intermediate goods and to deepen its collaboration in biotechnology. 

To achieve this, we will strengthen our human and material resources 

while offering creative models for cooperation.

In addition, there are new opportunities for collaboration in social services, 

including birth and housing policies. Incheon’s pioneering initiatives, 

such as the “One Million+Dream for Children” and “Child+Home Dream” programs, 

could serve as significant models for collaboration with China. 

Both Korea and China face challenges related to low birth rates and an aging population. 

Policy cooperation in addressing these issues would greatly benefit both nations.

China maintained a one-child policy for many years, 

but despite lifting these restrictions recently, the birth rate has not increased. 

In this context, Incheon’s pro-birth policies could offer valuable insights for China.

 I believe both nations can explore new possibilities for collaboration in these areas.

Communication and Empathy

Communication and empathy are the foundations 

of cooperation between our two countries. 

Building relationships based on cultural understanding 

and mutual empathy will play a crucial role 

in fostering deeper and more stable cooperation in the future. 

Incheon has prioritized communication and empathy 

by establishing various cultural platforms that allow Korean 

and Chinese citizens to understand and interact with each other. 

Among them, Incheon’s Chinatown has become 

a symbolic space for Korea-China exchange. 

It’s more than just a tourist attraction

—it’s a vital place for cultural communication and empathy. 

Here, people can experience each other’s 

cultures and broaden their understanding.

InChina Forum: Preparing for the Next Decade

This year, Incheon successfully hosted the InChina Citizens Academy. 

This program, created through the collaboration of public, private, 

and academic sectors—including the Incheon Institute for Talent & Lifelong Education, 

the Incheon Institute, Incheon National University, the Academy of Chinese Studies, 

and The Korean Association for Contemporary Chinese Studies—

has played a significant role in strengthening Korea-China relations.

This year marks the 9th anniversary of the establishment of the InChina Forum. 

The forum has established itself as Korea’s premier platform 

for comprehensive exchange and cooperation with China, 

setting milestones in the development of Korea-China relations. 

While many China-related events and forums 

that once seemed trendy have lost their substance and faded away over time, 

the InChina Forum has remained different. 

Regardless of diplomatic issues or international circumstances, 

we have consistently gathered to brainstorm 

and seek practical cooperation based on balance and mutual benefit.

We must build a better future for Korea-China relations 

by leveraging the achievements we have made so far. 

It’s time to tie up loose ends and move forward toward a brighter future. 

The InChina Forum will take the next step 

by evolving into a new global knowledge platform 

that drives Korea-China relations based on the values 

of balance, creativity, and communication. 

In addition, it will expand its role as a channel for policy dialogue 

between Korea and China and as a crucial platform for business cooperation.

As the founder and current chairman of the InChina Forum, 

I firmly believe that the exchange and cooperation 

between Incheon and China will lead to growth and development for both countries. 

The initiatives I’ve mentioned will proceed smoothly, 

and I ask for the support and active participation of everyone here today. 

I am confident that our shared journey will be 

successful and bring happiness to all involved. 

Fēicháng gǎnxiè (Thank you very much)!