Gwangyang Economic Zone Authority Signs Business Agreement with Industrial and Commercial Bank of China Korea Headquarters

Both Organizations Anticipate Revitalizing Foreign Investment Attraction Through Economic Exchange and Cooperation

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter Gwangyang Economic Authority) announced on the 6th that it signed a business agreement with the Industrial and Commercial Bank of China Korea Headquarters (Representative Wu Jianjun 牛建軍, hereinafter ICBC) to promote foreign investment attraction.

On this occasion, both organizations agreed to actively cooperate to discover and attract potential foreign investment companies by utilizing ICBC's global network.

The main contents of the agreement include ICBC recommending and introducing the Gwangyang Bay Area to Chinese companies interested in investing in Korea, and the Gwangyang Economic Authority providing services such as on-site inspections to companies intending to invest through ICBC.

Commissioner Song Sang-rak said, "With the signing of the business agreement with ICBC, we expect a good synergy effect in attracting Chinese company investments in fields such as secondary batteries, consumer goods, and metal material processing."

ICBC is one of China's four major state-owned commercial banks and is the largest bank in the world by asset size. As of the end of 2020, it has a global network in 49 countries with 426 branches.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

This content was produced with the assistance of AI translation services.