Diplomatic relations between the People's Republic of China and South Korea were formally established on 24 August 1992. Throughout the 1950s, 1960s, 1970s, and 1980s the PRC recognized only North Korea while South Korea in turn recognized only the Republic of China in Taiwan. South Korea was the last Asian country to establish relations with the People's Republic of China. In recent years, China and South Korea have endeavored to boost their strategic and cooperative partnership in numerous sectors, as well as promoting high level relationship. Trade, tourism and multiculturalism, in specific, have been the most important factors of strengthening two neighbouring countries cooperative partnership.