China's economy has maintained an annual increase of 8%~10% for twenty years in a roll since the reform and opening up in 1978. This achievement would have been impossible without the Foreign Direct Investment(FDI). From the establishment of the first Sino-foreign joint venture in 1979 to August 2002, the total value of FDI has amounted to 411,496 the actual investment value is 429 billion. According UNCTAD, China is going to attract $500 billion of the foreign investment in 2002 and becoming the largest recipient of FDI, exceeding that of the United Stated for the first time. So we can say China is attracting more and more worldwide attention. On December 11th, 2001, China joined the World Trade Organization(WTO) as its 143 member and it also won the bid to host the 2008 Olympic Games, which will bring a lot of opportunities to th joint ventures in China. In the post-WTO era, more foreign firms will set up their businesses in China, Chinese enterprises will grow faster and more foreign product will flood into China's markets. So the competition will be very fierce, Under this situation, how to successfully enter into China's markets has become a great concern for Korean Firms. China and Korea have formally established their diplomatic ties on August 24th, 1992. Its investment in China has increased by 35 times in just 10 years, from 140 million in 1992 to 5 billion at the end of 2001. Korea has become the fifth largest investor to China, and China has become the second largest investment target market to Korea. However, the investment of Korean firms is not very successful in China due to their lack of understanding about China's policies. Just walking out of the shadows of financial crisis of 1997. Korea successfully hosted the 16th World Cup and the Pusan Asian Games and its economy began to go upward. In my paper, I will dwell on China's new strategies to attract FDI in the post-WTO era and the means of Korean firms to successfully enter into China's market. In terms of China's new strategies toward FDI, I will focus on the changes in the laws and systems, in the forms and policies of the foreign investment. Basic laws on attracting foreign investment such as the Law of the People's Republic of China on Chinese-Foreign Equity Joint Ventures, the Law of the People's Republic of china on Chinese-Foreign Contractual Joint Ventures and the law of the People's Republic of China on Foreign-Capital Enterprises and the implementation details should be revised so as to be in consistence with TRIMs(Trade-Related Investment Measures), for example, the requirements on the purchasing priority of domestic products, the balance of foreign exchanges, international balance of revenue and expenditure, export performance requirements. They should also be in consistence with the three major principles of WTO rules, namely, national treatment principles, transparency and consistency. Korean firms should have a correct understanding of China's laws and the "relationship", make pre-analysis and strengthen local management and withdraw from using China's cheap labor force on the production bases. They should make full use of the 4P Strategies of Marketing, namely, Product, Price, Pass and Promotion and actively explore China's huge domestic markets. In the post-WTO era, the investment forms will be more diversified, including M&A, BOT, TOT and licensing and franchising. Korean firms should take full advantage of these new investment forms, which may allow them to cooperate with Chinese enterprises, advanced foreign companies or companies run by overseas Chinese. And they should actively participate the restructuring of SOEs in China by means of M&A. With the implementation of national treatment principles and the progressive elimination of preferential taxation policies towards foreign investors, Korean firms should invest more in the industries and regions encouraged by the Chinese government, such as high-tech sectors, service industries and the western regions.