Martial Arts: "China's Ministry of Commerce and Zhongguancun Expand Cooperation with Youth Startups"

Jeong Mangi, Vice Chairman of Muhyeop, Visits China

The Korea International Trade Association (KITA) announced on the 5th that Jeong Manki, KITA Vice Chairman, visited Zhongguancun, known as China's Silicon Valley, and the Ministry of Commerce on the 4th, where he held meetings with Xuan Hong, General Manager of Zhongguancun Development Group, and Li Pei, Deputy Director of the Ministry of Commerce of China, to discuss cooperation measures between the two countries.

Zhongguancun Development Group is a state-owned enterprise established in 2010 to promote the development of policy and science and technology industry clusters in Beijing. During the meeting with General Manager Xuan Hong, Vice Chairman Jeong stated, "Zhongguancun, as China’s Silicon Valley, has produced many world-class Chinese startups such as Baidu, Xiaomi, and Didi Chuxing," adding, "going forward, we should foster startups centered on young entrepreneurs and strengthen bilateral cooperation in the field of innovation."

Participants of the 'Korea-China Young Entrepreneurs Exchange Meeting,' jointly hosted by the Korea International Trade Association, Zhongguancun Development Group, and the Youth Entrepreneurs Association, are taking a commemorative photo on the 4th at the Haihang Marriott Hotel in Beijing, China. / Photo by Korea International Trade Association

Vice Chairman Jeong and General Manager Xuan agreed on cooperation plans for startups between the two countries, including dispatching companies to the Zhongguancun Forum held annually in Beijing every May and the Startup Global Exhibition (NextRise) organized by KITA in Seoul, to expand cooperation such as strategic alliances and mutual investments.

In the meeting with Deputy Director Li Pei, Vice Chairman Jeong discussed bilateral cooperation measures. He said, "During the COVID-19 period, concerns over the supply of raw materials such as batteries for electric vehicles and rare earth elements have been spreading due to disruptions in the global supply chain," and requested China’s active cooperation regarding raw material supply for Korean companies. Deputy Director Li responded, "We will cooperate to maintain the supply chain for Korean companies going forward."

KITA jointly held the 'Korea-China Young Entrepreneurs Exchange Meeting' with Zhongguancun Development Group and the Young Entrepreneurs Association of China at the Beijing Haihang Marriott Hotel. At this event, a Memorandum of Understanding (MOU) was signed with Zhongguancun Development Group and the Young Entrepreneurs Association to activate exchange and cooperation between young entrepreneurs of both countries, agreeing to hold regular exchanges in the future and promote mutual investment in young startups.

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