China's Yancheng Hosts Korea-China Trade and Investment Expo... 'Courting' Investment from Korean Companies

The 5th Korea-China Trade and Investment Expo opened on the 3rd in Yancheng, Jiangsu Province, China, where Korean companies such as Kia Motors and SK On have manufacturing plants. Attending the opening ceremony, the Governor of Jiangsu Province and others called for active investment from Korean companies, emphasizing cooperation and mutual growth.

On the 3rd, Xu Kunlin, Governor of Jiangsu Province, delivered a congratulatory speech at the Korea-China Trade and Investment Expo held at the China-Korea (Yancheng) Industrial Park, stating, "Korea and China are close neighbors and inseparable partners," and emphasized, "In particular, cooperation between Jiangsu Province and Korea is a role model even within China." He added, "We are promoting cooperation with Korea through the Yancheng Industrial Park and have achieved quite diverse results," and explained, "Let us use this event as an opportunity to discover various business opportunities, enhance mutual friendship, and create opportunities for cooperation, mutual growth, and win-win outcomes."

At the 5th Korea-China Trade and Investment Expo held on the 3rd in Yancheng, Jiangsu Province, China, attendees including Jeong Jae-ho, the Korean Ambassador to China (sixth from the left), and Xu Kunlin, Governor of Jiangsu Province (sixth from the right), are commemorating the opening. Photo by Kim Hyun-jung.

At this expo, the two countries signed a total of 36 project contracts, and on the day, they agreed on 20 key projects on site. The related investment amount exceeded 120 billion yuan (approximately 21.606 trillion KRW), with five projects exceeding 10 billion yuan each. Since the first event in 2019, the cumulative trade transaction amount through the previous four events is about 7 billion USD, with 191 contracted industrial projects and a total investment amount of around 270 billion yuan.

Jung Jae-ho, the Korean Ambassador to China, who attended the event as the representative of Korea, said in his congratulatory speech, "Jiangsu Province is the region in China where Korean companies have invested the most," and added, "It is very timely to review the achievements of Korea-China economic cooperation and explore cooperation measures through this expo." He continued, "Uncertainties in the global economy remain due to industrial network and supply chain instability and the ongoing global economic slowdown," and emphasized, "These multi-layered crises and challenges will serve as an opportunity for Korea and China to develop a mutually respectful bilateral economic cooperation relationship." Furthermore, he added, "We must continuously pursue future-oriented cooperation measures, and both the Korean and Chinese governments and companies must strive tirelessly to achieve tangible results." Afterward, Ambassador Jung visited regional and company booths to listen to stakeholders about market conditions.

Jeong Jae-ho, the South Korean Ambassador to China (center), is inquiring about the market status at the Kia booth during the 5th Korea-China Trade and Investment Expo held on the 3rd in Yancheng City, Jiangsu Province, China.
Photo by Kim Hyun-jung

Ahn Deok-geun, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, stated, "The world is facing various challenges such as uncertain international sentiments, supply chain instability, and digital transformation," and emphasized, "To overcome these, it is important to achieve joint development based on reciprocal cooperation between neighboring countries." He added, "Cooperation between Korea and Jiangsu Province can become a model for the next 30 years of cooperation," and stressed, "As the saying goes, 'A noble person harmonizes but does not follow blindly, while a petty person follows blindly but does not harmonize,' I hope that companies from both countries will harmonize and cooperate to open a future of mutual growth together."

Meanwhile, this year's Trade and Investment Expo was held on the largest scale ever, exceeding previous records in exhibition area, booths, and overall expo size. A total of 292 companies participated in 191 booths, covering sectors such as automobiles, cosmetics, food, and local specialties.

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