As active participants with common interests in the Arctic region，China and South Korea have broad space for cooperation in the Arctic economy. South Korea proposed “New Northern Policy” which about Arctic development，China put forward initiative called “Polar Silk Road” directing China involve Arctic Affairs. “New Northern Policy” and “Ice Silk Road” initiative have similar contents. These two policies share the same goal in Arctic development and achieve junction in the Northeast of China. As a result，I thinks China and South Korea can take some measures，such as the construction of inland shipping waterways connecting the Arctic，the establishment of China-ROK Arctic cooperation and coordination organizations，the improvement of the track-2 dialogue mechanisms on Arctic affairs，to promote the cooperation between “New Northern Policy” and “Polar Silk Road” and then increase the common earnings of China and South Korea in the Arctic region.