With the evolution of industrial structure and industrialization in developing countries, some trade has become intra-industry between developing and developed countries. The level of intra-industry trade between China and South Korea has also become an essential indicator of the country’s economic development and industrialization. Since the establishment of diplomatic relations between China and South Korea in 1992, bilateral trade between China and South Korea has steadily developed, and the “Belt and Road” initiative proposed by China in 2013 and the official signing of the China-South Korea Free Trade Agreement (FTA) in 2015 have provided a good platform for the development of trade between China and South Korea. In 2017 South Korea proposed in 2017, South Korea proposed the “New North Policy”, and China and South Korea agreed to dovetail the “Belt and Road” and the “New North Policy” to achieve a superior development of China-Korea trade. However, there are still problems, such as trade imbalance and a need for a two-way flow of investment between the two sides. This paper examines the existing problems in developing China-Korea import and export trade through developing China-Korea intra-industry trade in the new era. It suggests accelerating the sustainable development of China-Korea trade from the perspectives of strengthening trade communication between the two sides and accelerating Chinese enterprises’ investment in Korea.

Intra-industry trade (IIT) has played an important role in international trade of Vietnam as a result of rapid growth of the country. This article investigates the level of IIT between Vietnam and 11 trading partners in Trans-Pacific Partnership (TPP) over the period 2000- 2014. Although there have been a large number of empirical researches contributed to the determinants of IIT, most of them only pay attention on developed countries where the trade flows are similar due to similar demand structure and production technology. Until now, there is no study on intra-industry trade between Vietnam and countries in TPP that Vietnam recently signed a trade agreement in early 2016. IIT is measured by the Grubel–Lloyd index. The index shows that the extent of intra-industry trade between Vietnam and the trading countries is not high due to the level of economic development and the market size. The determinants of IIT are examined using a panel regression model. In the empirical analysis, the results indicate that Vietnam’s intra-industry trade is positively correlated with country size, while it is negatively correlated with income dissimilarity, the trade openness, and geographical distance. This study contributes to the new theoretical trade theory on the evidence of developing country’s IIT.