In the past ten years, the trade between China and South Korea has developed significantly, and there have also been corresponding progress in environmental protection, tourism, etc., which makes the economic and trade development prospects between the two countries bright. Since the financial crisis in 2008, the growth rate of the global economy has relatively slowed down, while the trade cooperation between China and South Korea has been further expanded. the trade cooperation has positive and progressive significance for the economic development of both countries. However, the current spread of protectionism between China and South Korea in trade has led to the gradual intensification of market competition, coupled with historical factors and other reasons, which have greatly affected the healthy development of trade between the two countries. Therefore, this paper mainly studies the economic effects between China and South Korea from the perspective of global value chain.