TAIPEI (Taiwan News) — Representative Kang Young-hoon (姜永勳) of the Korean Mission in Taipei said in a speech on Tuesday (Oct. 1) that there is much room for cooperation between Taiwan and South Korea, as both countries support fair trade and are striving to overcome global economic instability.

Kang, who took over leadership at the Korean Mission in Taipei in May, said that South Korea and Taiwan complement one another in terms of industrial structure, reported CNA. The trade volume between the two countries reached US$37 billion last year, Kang said, adding that South Korea is Taiwan's fifth-largest trade partner, while Taiwan is South Korea's sixth-largest.

In addition, Kang noted that Korean dramas are well-liked by Taiwanese and that Taiwanese cuisine is very popular in South Korea. He went on to say that because the two countries are culturally similar and in close geographic proximity, exchanges have become common.

More than one million South Koreans visited Taiwan last year, a number matched by the 1.1 million Taiwanese who traveled to South Korea, Kang observed. He said he hoped that new records could be set for this year, CNA reported.

Kang added that bilateral relations between Taiwan and South Korea have matured, with challenges to both sides having been overcome over the past few decades.