KOTRA Holds 'Korea-Hubei Province Future Cooperation Plaza' in China

30th Anniversary of Korea-China Diplomatic Relations
Simultaneous Promotion of Logistics Cooperation Forum, Consultation Meeting, Sales Exhibition, and CSR

[Asia Economy Reporter Han Yeju] KOTRA announced on the 28th that it will hold the 'Korea-Hubei Future Cooperation Plaza' in Wuhan, China on the 29th.

Planned in connection with 'Export Plus' and the 30th anniversary of Korea-China diplomatic relations, this event will be held both online and offline in Wuhan, the logistics hub of the middle reaches of the Yangtze River, jointly with the local government. It includes ▲ Logistics Cooperation Forum ▲ Business Consultations ▲ Consumer Goods Promotion ▲ CSR (Corporate Social Responsibility) activities.

The 'Korea-Hubei Logistics Cooperation Forum,' co-hosted with the Hubei Provincial Government and the Korea Maritime Institute, was held last October to discuss cooperation measures in logistics between the two countries, which is expanding to inland China following the opening of the direct Yangtze River shipping route between Busan Port in Korea and Yangluo Port in Wuhan, China.

Since its full-scale launch this year, the cargo volume on the Busan-Wuhan Yangtze River direct shipping route has increased faster than expected, reaching about 430 TEU per month. With two dedicated vessels scheduled to be deployed next year, it is expected that Korean companies' entry into the Chinese inland market will become more active. Recently, Ezhou, a city near Wuhan, established Asia's first cargo-only airport, and the China-Europe freight train 'Hanxin'ou (漢新歐)' departing from Wuhan connects to Poland, Germany, and France, rapidly emerging Wuhan as a logistics hub in central inland China.

In the one-on-one consultation meeting, about 15 Korean companies and over 30 Chinese companies will participate in three key sectors that Hubei Province is focusing on: ▲ ICT ▲ Automotive ▲ Medical Bio. KOTRA plans to fully commit to 'Export Plus' by recruiting buyers not only from Hubei Province but also from Zhengzhou in Henan Province, Changsha in Hunan Province, and Chongqing to provide various business opportunities in inland China.

Additionally, to expand the entry of Korean consumer goods into the inland consumer market, a 'Korean Products Promotion' will be held at supermarkets in downtown Wuhan starting from the 28th. As a side event, social contribution activities will also be conducted, donating masks and daily necessities to low-income villages in Hubei Province, continuing from last year.

Kim Taeho, Head of KOTRA's Economic and Trade Cooperation Headquarters, said, "Marking the 30th anniversary of Korea-China diplomatic relations, it is important to find new business breakthroughs in the Chinese inland market. We plan to actively utilize the Busan-Wuhan Yangtze River direct shipping route, which started this year, and strengthen cooperation with local governments to expand Korean companies' entry into the Chinese inland market."

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