SOUTH KOREA
From Times Staff and Wire Reports
Korean Refiner to Build $1.5-Billion China Plant: The Yukong Ltd. joint venture project would be the biggest between South Korea and China since they established diplomatic ties in 1992. The refinery, with a processing capacity of 100,000 to 150,000 barrels of oil daily, is to be built in Shenzhen. Trade between the two countries has mushroomed since normalization, with two-way volume totaling $8.9 billion last year. Seoul officials said South Korea hoped to increase its trade with China to $56 billion by 2001.
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