Gwangyang Economic Zone Authority Holds Online Investment Promotion Briefing for Greater China Region
Companies Attending in Wuxi, Jiangsu Province Express Interest in Gwangyang Bay Area Investment Environment as Overseas Expansion Hub
[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (hereinafter Gwangyang Economic Authority, Director Song Sang-rak) announced on December 9 that it successfully held an online investment attraction briefing with Wuxi City, Jiangsu Province, China.
The online investment attraction briefing was organized to promote the investment environment of the Gwangyang Bay Area in preparation for the prolonged COVID-19 situation and to attract Chinese companies. It was held in Wuxi City, Jiangsu Province, jointly with the Gwangyang Economic Authority and the Korean branch of Yingke Law Firm, the largest law firm in China, with the participation of 10 manufacturing companies.
The Gwangyang Economic Authority provided information on the Se-pung Industrial Complex port hinterland in the Gwangyang Bay Area, the planned foreign investment zones in the Daesong Industrial Complex in Hadong, and successful cases of investment attraction by Chinese manufacturing companies, targeting 10 Chinese manufacturing companies in the e-mobility and electric motor sectors.
The Chinese company representatives attending the event presented their future overseas investment plans, and the Gwangyang Economic Authority introduced a business model of manufacturing in the Gwangyang Bay Area and exporting to the US and Europe using Korea's FTA (Free Trade Agreement) platform.
In particular, the Chinese businesspeople attending the event showed great interest in resolving tariff and non-tariff barriers due to 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 platform and the premium of Korean products.
An investment attraction official from the Gwangyang Economic Authority stated, "In preparation for COVID-19, we will promote the investment environment of the Gwangyang Bay Area through various methods, including both online and offline, and will strive to establish continuous partnerships with Chinese government agencies and companies to realize successful investment attraction after the end of the pandemic."
The Gwangyang Economic Authority plans to continue expanding customized online and offline overseas investment briefings focusing on overseas regions and industries suitable for the Gwangyang Bay Area.
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Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr
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