Shift in China's economic paradigm would slow down export growth of South Korea, which heavily depends on the world's second-largest economy for exports, a Bank of Korea (BOK) policymaker said Thursday.

"Change in China's economic development strategy would cause slowdown in South Korea's exports to China as well as sluggish growth in China," Chung Soon Won, a member of the BOK's monetary policy board, said in a seminar held in Beijing to commemorate the 10th anniversary of establishment of the bank's Beijing office.

Chung said that China's strategy changed from export and investment-driven economy led to one driven by domestic demand, while fostering new growth engines and boosting balanced development of regions.

China is South Korea's largest trading partner. Trade volume between the two neighbors surged around 34 times to 215.1 billion US dollars in 2012 from 6.4 billion dollars in 1992 when Seoul and Beijing forged diplomatic ties.

Chung said that exporters in South Korea should focus on luxury consumer goods market in China in response to the development change, urging broader cooperation among companies of the two nations to develop global standard and foray into new markets.