On 26 November 2019, Mr. Wang Chengjie, Vice Chairman and Secretary General of CIETAC, welcomed Mr. Yoon Kyungwon, Legal Counsellor / Minister Prosecutor of the Embassy of the Republic of Korea in China, and his colleagues in Beijing. The two sides discussed about alternative dispute resolution methods between Chinese and Korean enterprises and the improvement of business environment in both countries.

During the meeting, Mr. Wang Chengjie firstly traced the history of cooperation between Chinese and Korean arbitration institutions. In August 1992, China and Korea established diplomatic relations. In the same year, CIETAC established a cooperative relationship with the Korean Commercial Arbitration Institute. In 2010, CIETAC signed the “Beijing Declaration on Deepening International Commercial Arbitration Cooperation” with six international arbitration institutions, including the Korean Commercial Arbitration Institute and the Korea International Trade Arbitration Commission. Mr. Wang Chengjie then  introduced the history and status quo of CIETAC, the features and advantages of CIETAC arbitration, and the features of Korean-related cases accepted by CIETAC. He also talked about the high degree of internationalization of the CIETAC cases and the panel of arbitrators, the advanced nature of CIETAC arbitration rules, and the fast and efficient arbitration proceedings.

Mr. Yoon Kyungwon stated that China is the biggest and most important trade partner of Korea. Korea is China's largest importer, third largest exporter, and third largest trade partner, so the relationship between the two countries is of great importance. Therefore, Mr. Yin hoped to learn from the experiences of CIETAC in resolving civil and commercial disputes in order to help resolve domestic and international commercial disputes with neighboring countries and create a good business environment in Korea. He looked forward to closer legal cooperation between China and Korea in the future to jointly promote economic and trade exchanges between the two countries.