Changchun International Cooperation Demonstration Zone and Daegu Gyeongbuk Free Economic Zone Authority Sign MOU for Mutual Cooperation in Investment Attraction

The Daegu Gyeongbuk Free Economic Zone Authority (headed by Kim Byungsam) signed a memorandum of understanding (MOU) on June 13 with the Changchun International Cooperation Demonstration Zone (Party Secretary Liu Naijun) of China to promote mutual cooperation in attracting investment between the two regions.

In addition, the signing ceremony was attended by the Changchun city government delegation, including Changchun Deputy Mayor Jang Chunda, where the two sides engaged in in-depth discussions on ways to enhance cooperation between the regions.

Daegu Gyeongbuk Economic Zone Authority Chief Kim Byungsam (right) and Changchun Deputy Mayor Jang Chunda are taking a commemorative photo after exchanging gifts.

The Changchun International Cooperation Demonstration Zone, approved by the State Council of China (central government) in 2020, is the only national-level demonstration zone for Korea-China cooperation in China. It operates as an international cooperation platform targeting the Northeast Asian and global markets, based on collaboration between Korea and China.

Currently, the demonstration zone is home to more than 20 industrial complexes, including those for medical devices, health foods, and the digital economy. Twenty-one Korean companies are actively conducting business within the zone. Notably, TMS Co., Ltd., a producer of optical display adhesives, is among the representative Korean companies operating there.

Through this MOU, the two organizations agreed to discuss practical cooperation measures to promote industrial exchanges in a variety of sectors, including mutual investment attraction, advanced equipment manufacturing, optoelectronic information, and advanced medical devices and healthcare. They also agreed to continue working-level exchanges on an ongoing basis.

Kim Byungsam, Chief of the Daegu Gyeongbuk Free Economic Zone Authority, stated, "DGFEZ is actively participating in exhibitions related to the bio industry and future mobility in the automotive sector to attract Chinese companies, and is vigorously pursuing investment attraction activities." He added, "This aligns well with Changchun's key industries, so a synergistic effect between the two regions is expected."

Kim further emphasized, "With the signing of this MOU, DGFEZ will continue to provide unwavering support to ensure not only cooperation in investment attraction between DGFEZ and the China-Korea Demonstration Zone, but also to achieve tangible results in various industrial sectors."

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