On December 7th, China-Korea Technology Fair 2009 was jointly held in Seoul, ROK, by the Ministry of Commerce of China and Ministry of Knowledge Economy of Korea, aiming to implement China-Korea MOU on Technology Exchange and Cooperation, promote China-Korea economic and trade relationship and enhance technology exchange and cooperation between the two countries.

All enterprises attending the fair had match-making exchanges in various ways in the fields of information communication, new environment-friendly materials, electronic products, biotechnology and mechanical equipment, making many achievements.

According to preliminary statistics, transaction volume from cooperation intention in the fair reached $90 million and the actual transaction volume was over $10 million. Besides, both governments and enterprise representative discussed issues of investment environment and industrial policies. Experts and scholars from both countries introduced industry situations and made suggestions for mutually beneficial cooperation in the fields of information communication, new environment-friendly materials, electronic products, biotechnology and mechanical equipment, etc.

In the fair, Shan Qingjiang, Deputy Director of Department of Trade in Services of Ministry of Commerce of China, introduced the development of China's service trade and relevant policies.

In 2008, over 10,000 technology items were imported by China with a total value of $27.1 billion and a year-on-year growth of 10%. In first three quarters of 2009, as a result of the financial crisis, value of import amounted to $15.63 billion, decreasing year on year. In the future, China will make more efforts to open further in service trade, increase service import and promote the strategy of Bringing in and Going Global in the service industry.

China will also bring in strategic investors in industries such as transportation, finance, insurance, design, research and development, medical and health service and marketing, encourage foreign capital to participate in software development, foreign outsourcing, logistics service, etc., and comprehensively improve the position of China's service industry in the global production network and value chain. The Chinese government will place emphasis on supporting enterprises in bringing in technologies with market potentials such as electronic communication, biotechnology, civil aeronautics and astronautics, machine manufacturing, petrochemical, clean power and new materials, enhancing bilateral and multi-lateral technology cooperation, and promoting technology exchange and cooperation with enterprises from major countries and regions. The government will build a bridge between enterprises and scientific research institutions to enhance their research and development as well as technology cooperation.

China and ROK are greatly complementary in the field of high technologies. Since the two countries signed the China-Korea MOU on Technology Exchange and Cooperation, they have held five fairs of this kind respectively in Beijing, Shenyang, Qingdao and Seoul and all the fairs turned out to be very successful.