Suwon Mayor Lee Jaejun Signs Agreement with Dongfangmigok, China's Leading Beauty and Bio Cluster, During Business Trip

Suwon City in Gyeonggi Province held an investment promotion briefing for companies located in the core district of Dongfangmigok, one of China's leading beauty and bio industry clusters.

According to Suwon City on September 24, Mayor Lee Jaejun introduced Suwon's industrial competitiveness and infrastructure, investment incentive programs, and the current status and future plans for the designation of the Suwon Free Economic Zone to companies based in Dongfangmigok, representatives from investment institutions, and members of the Dongfangmigok management committee at the JW Marriott Dongfangmigok in Shanghai on the 23rd. He also actively encouraged investment in Suwon.

Dongfangmigok participated in the briefing session, presenting its own vision and strategy, and supported core district companies in making presentations and engaging in networking activities.

Dongfangmigok also facilitated smooth cooperation with the Suwon City delegation, helping Korean and Chinese companies expand their networks and deepen mutual understanding.

Lee Jaejun, Mayor of Suwon (left), is taking a commemorative photo after signing an agreement with Dongfangmigok, a Chinese beauty bio industry cluster, on the 23rd. Provided by Suwon City

Immediately after the briefing, the two sides signed an agreement. They agreed to support investment activities in Suwon by companies from the core district of Dongfangmigok and to strengthen cooperation between companies seeking to enter Korea and those based in Suwon.

This agreement is expected to expand networks between Korean and Chinese companies and enhance mutual understanding. It is also anticipated to broaden the scope of cooperation in various fields, including beauty and bio industries.

Dongfangmigok is a world-class beauty industry cluster located in Fengxian District, Shanghai. The total area of the industrial complex is 18.49 square kilometers, of which 5.95 square kilometers are designated for industrial use. More than 3,000 companies in cosmetics, life sciences, and biopharmaceuticals are gathered there. The industry scale exceeds 100 billion yuan (approximately 19.58 trillion won).

Mayor Lee Jaejun of Suwon stated, "It is an honor to establish a relationship with Dongfangmigok, which is leading the global beauty industry and now expanding its territory into advanced sciences such as life sciences and bio. Suwon is pursuing the designation of the Suwon Free Economic Zone, and our goal is to develop it into a cradle of advanced industries similar in scale to Dongfangmigok."

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