1. On May 17, 2021, the Ministry of Foreign Affairs (MOFA) signed a memorandum of understanding (MOU) with the National Research Council for Economics, Humanities and Social Sciences (NRC) regarding the Committee for Future-Oriented Development of Korea-China Relations.

※ The NRC is a public entity under the Prime Minister whose purpose is to contribute to the nation’s research community and knowledge industry.

° The MOU was signed by Minister of Foreign Affairs Chung Eui-yong and Chair of the NRC Jung Hae-gu.

2. The Committee for Future-Oriented Development of Korea-China Relations is a temporary organization in which experts from private sectors of Korea and China participate to make a blueprint for next 30 years of bilateral relations, ahead of the 30th anniversary of the establishment of Korea-China diplomatic ties in 2022. The two sides agreed to launch the Committee at the Korea-China Foreign Ministers’ meeting in November 2020.

3. The primary purpose of the MOU is to designate the NRC as the Secretariat of the Committee for the Korean side and to ensure that MOFA and the NRC work together for successful operation of the Committee.

o The NRC will support the Committee’s operation and research activities in seeking ways to strengthen sectoral cooperation between the two countries and effectively presenting its vision for future cooperation. Meanwhile, MOFA will provide necessary support for the Committee’s activities.

4. Foreign Minister Chung mentioned that the Committee is significant in that private sectors of the two countries will discuss and suggest a direction for future-oriented development of Korea-China relations. He added that he believes the NRC, based on its expertise and experience, will play an active role for the Committee’s successful operation.

5. MOFA will actively help the Committee be launched smoothly and carry out its task of presenting a direction and a vision for the future development of Korea-China relations.