YANCHENG, China, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Located on the coast of the Yellow Sea, Yancheng stands as the city in Jiangsu, China, with the closest ties to South Korea and boasts the densest cluster of South Korean-invested enterprises in China. On November 29, the China-South Korea (Yancheng) Industrial Park Economic and Trade Cooperation Exchange Conference was held in Yancheng, gathering over 300 guests from across the globe at the China-South Korea (Yancheng) Industrial Park. With the theme "United for Progress, Advancing New-Quality Development," the event emphasized open cooperation and the development of high-quality productivity, drawing participation from Fortune Global 500 companies and top 20 industry leaders. A number of agreements were signed during the event, involving projects in emerging industries such as automobiles, new energy, new materials, and next-generation information technology.
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"In recent years, China and South Korea have seen increasingly frequent exchanges in economic, cultural, and tourism sectors. The China-South Korea (Yancheng) Industrial Park stands out as a model for such cooperation," remarked Kim Young-jun, Consul General of the Republic of Korea in Shanghai, during his opening address. He praised Yancheng's ongoing efforts to refine its economic and trade investment environment, which have facilitated greater business partnerships between the two countries. Last year, trade volume between Yancheng and South Korea increased by 31.8%.
The China-South Korea (Yancheng) Industrial Park is a pioneering national initiative to advance collaboration with South Korea. It is the only national-level platform for South Korea-related cooperation in the Yangtze River Delta. At the heart of the park lies the Yancheng Economic and Technological Development Zone, which has attracted nearly 400 South Korean-funded enterprises, including Kia, SK, and Mobis. The zone hosts significant national and provincial industrial platforms, including the China-Japan-South Korea (Jiangsu) Industrial Cooperation Demonstration Zone, the China (Jiangsu) Pilot Free Trade Zone Innovation Development Area, and a national foreign trade transformation and upgrade base.
In recent years, the Yancheng Economic and Technological Development Zone has focused on fostering industries such as automobiles, crystalline silicon photovoltaics, power batteries, and modern services. It is rapidly establishing itself as a globally competitive advanced manufacturing hub with a modern industrial system. For three consecutive years, its core industrial clusters have exceeded 100 billion yuan in output, marking a significant value-chain cluster development. Yancheng is now advancing as the world's largest "New Energy Optics Valley," the "Modern Automotive City" of China's eastern coast, and a nationally recognized "Capital of Lithium Batteries."
Source: China-South Korea (Yancheng) Industrial Park
