The 4th China-Korea Technology Fair was held successfully in Seoul, Korea in March 14 and 15, co-sponsored by the Ministry of Commerce of PRC and Ministry of Commerce, Industry and Energy of Korea. About 100 hi-tech products with proprietary IPR like Car Navigation System of Anygo, CDMA mobiles and wireless data card etc. were exhibited, covering hi-tech areas of electronic information, aerospace and aviation, biological medicine, energy saving and machinery manufacture.
At the Fair, enterprises from China and Korea were active in negotiation and made fruitful achievements. According to incomplete statistics, value of contracts reached US$16.95 million, and of contracts of intent were US$165 million.
The Fair was held against the background of rapid development of China-Korea trade and economic cooperation and active communication and cooperation in hi-tech areas. Since the establishment of diplomatic relations between China and Korea 14 years ago, the bilateral trade maintained a rapid growth with a rate of 20% to 30%. In 2005, China-Korea bilateral trade amounted to US$111.9 billion, up by 24.3% compared with the same period of the previous year, realizing the original target 3 years earlier that the bilateral trade would reach US$100 billion in 2008. Korea became the 6th trading partner for China, import and export of hi-tech products between the two countries amounted to US$32.9 billion, up by 36.6%. Korea was the 7th trading partner of hi-tech products for China: China imported 617 technology projects with a contract value of US$900 million. Korea was the 4th biggest technology import source for China. It was predicted that the bilateral trade would be US$200 billion and bilateral trade of hi-tech products would exceed US$70 billion in 2012, the 20th anniversary of diplomatic relations between China and Korea