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China’s One Belt, One Road Strategy and Its Implication to Korea

One Belt, One Road known as the Silk Road Economic Belt and the 21st Century Maritime Silk Road is a global project seeking to deliver China’s ambition of coordinated trade routes on both rail and sea. The Silk Road Economic Belt is envisioned as three routes connecting China to Europe, the Persian Gulf, the Mediterranean and the Indian Ocean. The 21st Century Maritime Silk Road is planned to create connections among regional waterways. It aims to create the world’s largest platform for economic cooperation, including policy coordination, trade and financing collaboration, and social and cultural cooperation. China hopes the benefits of cooperation can be shared and that the circle of friendship will be strengthened and expanded. China’s One Belt, One Road will allow South Korea to consider participating in the project. South Korea developed its own Eurasia Initiative based on economic cooperation in Eurasia through infrastructure projects and it will be beneficial for South Korea and China if both countries connect One Belt, One Road and the Eurasia Initiative. South Korea can take part not only in building infrastructure in developing countries but also join efforts with China in distribution, development of resources and new industries. Such cooperation is beneficial to both parties