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Yeo Hangoo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, is meeting with Zhao Yan, Vice Governor of Jiangsu Province, China, on the 19th in Yancheng, Jiangsu Province. Ministry of Trade, Industry and Energy.

As Jiangsu Province in China has emerged as Korea's largest region for trade and investment with China, the Korean government is shifting its economic cooperation with Jiangsu from simple exchange to a focus on tangible results. In particular, for the first time, it has linked an export consultation session to actively support Korean consumer goods companies seeking to enter the Chinese market.

Yeo Hangoo, Director-General for Trade Negotiations, attended the '7th Korea-China (Jiangsu) Economic and Trade Cooperation Exchange' held in Yancheng, Jiangsu Province, China, on May 19. The event was co-hosted by the Ministry of Trade, Industry and Energy and the Jiangsu provincial government, and included meetings with senior officials from Jiangsu Province, such as Vice Governor Zhao Yan.

This exchange, held under the theme of 'Expanding Future-Oriented Korea-China Cooperation,' brought together more than 400 government officials and business representatives from both countries to discuss cooperation in trade, investment, and supply chains. Jiangsu Province is the second-largest regional economy (GRDP) among 31 provinces and cities in China, with trade between Korea and Jiangsu reaching approximately USD 86.3 billion last year. This ranks fourth globally, following Vietnam (USD 94.5 billion) when calculated by country.

Notably, Jiangsu Province is home to more than 3,000 Korean companies, including Samsung Electronics’ Suzhou subsidiary, SK hynix’s Wuxi plant, Kia’s Yancheng plant, and LG Energy Solution’s Nanjing subsidiary, mainly in the automotive, battery, and semiconductor sectors. The government sees Jiangsu as a key hub for Korea-China supply chain cooperation.

For the first time at this exchange, the government hosted one-on-one export consultation sessions, focusing on 'performance-based cooperation.' Organized by the Korea International Trade Association, 35 promising Korean consumer goods companies participated and held discussions with major Chinese distribution networks such as JD.com and local buyers. A product showcase promotional booth was also operated on-site for participating companies.

Yeohan Gu, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, is holding a meeting with business representatives from companies operating in Jiangsu Province, China, including Kia Motors, SK On, Sungwoo Hitech, Dongik Automotive Parts, LG Chem, and Daesang Foods, on the occasion of attending the 7th Korea-Jiangsu Economic and Trade Cooperation Exchange held jointly in Yancheng, Jiangsu Province, China, on the 19th. Ministry of Trade, Industry and Energy.

More than 300 business meetings took place during the consultation sessions, and Korean companies such as Gwangcheon Gim and Hyosung Advanced Materials signed a total of 11 memorandums of understanding (MOUs) with Chinese partners. The value of export agreements reached USD 2.3 million.

Additionally, the government supported participating companies in global cross-border e-commerce exports by utilizing the MOU signed between Gmarket and Alibaba during the Korea-China summit in January this year. Korea Trade Insurance Corporation and Korea Testing & Research Institute (KTR) set up consulting desks on-site to provide advisory services for certification and insurance.

Director-General Yeo stated, "We will actively support efforts to turn the momentum for cooperation, created through mutual state visits by the leaders of Korea and China, into tangible results," adding, "Since each local government in China has its own unique industrial ecosystem, it is necessary to continuously expand tailored cooperation for each region."

Meanwhile, during the event, Director-General Yeo also met with representatives from Alibaba, China’s largest e-commerce platform, to exchange views on expanding exports of Korean consumer goods through digital marketing, including cross-border e-commerce and live commerce. He also listened to the difficulties and support needs of Korean companies operating locally through a roundtable discussion.

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