Gwangyang Economic Zone Authority Holds Joint Online Briefing with Commerce Bureau of Yingsheng City, China

Presentation of Overseas Power Generation Strategies and Investment Plans by Korean-Chinese Participating Companies
Expression of Interest in Gwangyang Bay Area Investment Environment as a Base for Overseas Expansion

[Gwangyang=Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sangrak, hereinafter Gwangyang Economic Authority) announced that it held a joint online briefing session with the Commerce Bureau of Yingshi City, Shandong Province, China, on the 8th.

This joint briefing session was organized to introduce the industrial environment of both regions and companies intending to enter the market in preparation for the prolonged COVID-19 situation. Ten manufacturing companies jointly identified by the Commerce Bureau of Yingshi City, Shandong Province, China, and the Gwangyang Economic Authority participated.

On the Chinese side, six companies attended, including those producing camping cars and LED smart lighting, while on the Korean side, companies involved in cosmetics, seafood processed products, high-quality feed, health functional foods, and plastic processing participated.

The Gwangyang Economic Authority introduced investment conditions and support systems for the Gwangyang Sepung Industrial Complex's port hinterland and Hadong Daesong Industrial Complex, as well as successful cases of attracting investment from Chinese manufacturing companies to these companies.

At the event, representatives of Chinese companies gave presentations on "Overseas Investment and Development Strategies," followed by Korean company representatives presenting their strategies to enter the Chinese market or attract investment from China to produce domestically and export overseas under the 'Korea Brand.'

Chinese businesspeople at the event showed particular interest in resolving tariff and non-tariff barriers resulting from the US-China trade dispute, the advantages of the Gwangyang Bay Area as an investment location, and successful cases of Chinese companies utilizing Korea's FTA (Free Trade Agreement) network platform.

A Gwangyang Economic Authority official stated, "We will continue to promote the Gwangyang Bay Area Free Economic Zone in various ways in preparation for the post-COVID-19 era and strive to establish continuous partnerships with Chinese government agencies and companies to realize successful investment attraction after the end of the pandemic."

Based on the successfully held joint briefing session, the Gwangyang Economic Authority plans to expand specialized briefings targeting industries in countries such as China, Europe, and Southeast Asia.

Gwangyang=Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik hss79@asiae.co.kr

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