South Korean and Chinese companies signed nine memorandums of understanding(MOUs) on the margins of President Lee Jae Myung’s state visit to China, agreeing to bolster cooperation in consumer goods, cultural content and supply chains.
The MOUs were signed during a business forum in Beijing on Monday.
Under an MOU between South Korea’s Shinsegae Group and China’s Alibaba International, the Chinese company has agreed to export South Korean products developed by Shinsegae through its online platform.
South Korean fish cake maker Samjin Food, agricultural technology firm Farmstaff and biotech company PharmaResearch each signed an MOU on consumer goods with a Chinese partner.
South Korean content and gaming companies signed three MOUs on the joint development of cultural content in K-pop, entertainment and film.
In supply chains, South Korean and Chinese firms agreed to jointly develop a high-performance computing platform for the commercialization of Level Four autonomous vehicles, and to jointly build a materials factory for power generation and water treatment.