China and South Korea have reached a price undertaking agreement regarding an anti-dumping investigation into Chinese hot-rolled steel coils, a move hailed as a win for both bilateral economic stability and multilateralism.

A spokesperson for China's Ministry of Commerce (MOFCOM) made the remarks on Tuesday in response to a media inquiry about South Korea's final ruling on the case, which was issued on Monday.

The spokesperson noted that the industry sectors in both nations welcomed the consensus, adding that replacing punitive duties with a price undertaking can enhance the stability and predictability of the regional steel trade.

The economic ties between China and South Korea remain robust, characterized by deeply integrated industrial and supply chains, according to the ministry. The "soft landing" of this case reflects mutual respect and understanding, sending a positive signal regarding the consolidation of bilateral trade cooperation, the spokesperson said.

Beyond the immediate impact on the steel sector, the spokesperson emphasized the broader significance of the resolution, which demonstrates a firm commitment by both Seoul and Beijing to support multilateralism and uphold free and fair trade.

The spokesperson said this outcome injects "positive energy" into international economic cooperation during a period of global uncertainty.