KOTRA Holds Future Industry Export Consultation in Tianjin, China... "A Stage for Green Industry Investment"

[Asia Economy Reporter Moon Chaeseok] KOTRA announced on the 23rd that it will hold the '2022 World Intelligence Congress (WIC) Linked Future Industry Export Consultation' in Tianjin, a city gaining attention as a growth engine in China.

At the consultation held the following day, discussions will focus on the necessary aspects to increase the entry of Korean companies into China's smart manufacturing and green industries. WIC is Tianjin's largest smart technology exhibition, held for the sixth time by China's National Development and Reform Commission and Ministry of Science and Technology. Major companies in artificial intelligence (AI), smart manufacturing, and 5th generation (5G) communications participate.

According to KOTRA, China's smart manufacturing market is worth $372.5 billion (approximately 484 trillion KRW). The market has grown as energy use efficiency improves and the spread of smart manufacturing processes accelerates to reduce carbon emissions. China is the world's largest carbon emitter. Tianjin is no exception in its carbon reduction efforts. The city sets pollutant reduction targets and supports the establishment of smart factories. This means significant business opportunities may open for Korean companies.

The event will feature an online consultation between domestic and Chinese companies in the smart manufacturing and green industry sectors. Eighteen Korean companies in the green smart manufacturing field, including completed robot manufacturer Company B and sludge treatment equipment manufacturer Company A, will participate. Among Chinese companies, 52 firms will join, including Tianjin Zhongyong Environmental Science and Technology Company, a waste treatment company, and Asia-Pacific Intelligent Technology Company, a robot parts manufacturer. Chinese water treatment company E said, "We mainly imported products from Western countries such as the UK and Germany, but through this consultation, we expect to import Korean products and diversify our product lineup." KOTRA stated that after the consultation, it will collaborate with KOTRA's eco-friendly council trade offices in Chinese regions such as Qingdao, Xi'an, and Wuhan to provide business opportunities between Chinese and Korean companies.

Meanwhile, on the 17th, KOTRA held an online seminar inviting Korean and Chinese green industry and smart manufacturing experts. The seminar introduced the market status and policy trends by industry in both countries and shared cooperation plans between companies from the two nations. Professor Zhang Shuting of Tianjin University, who participated as a speaker, said, "Since Korean green industry companies have a high level of technology and good adaptability in the Chinese market, cooperation opportunities between companies from both countries are expected to increase."

Hong Changpyo, head of KOTRA's China regional headquarters, said, "Tianjin is a city with a large manufacturing production share and can be a new business venue for domestic companies in smart manufacturing and green industries. Especially, since China is promoting environmental improvement and the expansion of smart manufacturing through low-carbon policies and smart manufacturing development plans, the consultation will provide an opportunity to explore cooperation methods between companies from both countries."

Urban road scene in China. China is the country that emits the most carbon in the world. (Photo by Asia Economy DB)

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