South Korean President Moon Jae-in on Saturday vowed efforts to boost his country's economic cooperation with China, saying cooperation between the countries will benefit both.

The president also vowed efforts to link his New North and New South policies with China's One Belt, One Road development policy.

"At the summit, President Xi and I agreed to actively look for ways of actual cooperation between China's One Belt, One Road initiative with South Korea's New North and New South policies," Moon said while attending a business cooperation forum here in Chongqing, referring to his administration's new foreign policies that seek to boost the country's diplomatic and economic cooperation with Eurasian states, such as Russia, and Southeast Asian nations.

"I am confident a link between the One Belt, One Road initiative and New North, New South policies will lead to peace and joint prosperity in the region and become a strong wave that spearheads the development of all of humanity," he said, according to a script of his speech released by his office Cheong Wa Dae.

Moon arrived here late Friday following his three-day visit to Beijing for a bilateral summit with Xi. He is currently on a state visit.

The South Korean leader insisted the countries must work together in four areas to ensure successful collaboration between their own economic and diplomatic policies.

First, he called for increased connections and access between the two countries.

"If the connection between an inter-Korean railroad and the trans-Siberian Railway that South Korea is actively pursuing meets China's trans China, Mongolia and Russia economic corridor, the rail, air and sea routes of Eurasia will reach all corners of the region," Moon said.

He also called for efforts to build what he called a "digital silk road" between the two countries to assist the development of their IT industries and fourth industrial revolution.

Another area of cooperation is in overseas markets, the president noted.

"I will actively support the joint advance of South Korean and Chinese firms into third countries," he said.

Moon also stressed the importance of cooperation between countries in the region, noting Seoul and Beijing have already agreed to launch negotiations for an expansion of their free trade agreement (FTA) to include the service and financial sectors. The South Korea-China FTA went into effect in late 2015, but currently deals with products only.

"Lastly, (South Korea) will work to strengthen its cooperation with the key regional governments of China, including Chongqing," he said.

In a later meeting with Chen Miner, governor and Communist Party secretary of Chongqing, the South Korean president vowed increased economic cooperation between his country and the southwestern Chinese city.

"I believe economic cooperation between South Korea and Chongqing will greatly contribute to China's development of the west, as well as balanced development of China, and I promise the South Korean government will do its utmost to boost their cooperation," he told Chen, who is also one of the rising political stars in China.

Moon was set to return home later in the day. (Yonhap)