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Korean Governmental Agency Promotes Saemangeum Investment in Wenzhou
             Author:    Source:    PublishTime:05-19-2016     Hits:6964

 Recently, “China (Wenzhou)-Korea Saemangeum Investment Promotion Seminar” co-sponsored by the Wenzhou Municipal Bureau of Commerce and the Saemangeum Development Agency of South Korea (Republic of Korea, ROK) was held in Wenzhou. During the event, Kim Chae Gyu, head of the Investment Strategy Bureau of the Agency and officials of the Korea Trade-Investment Agency briefed about the development projects in Saemangeum and exchanged views with the participating representatives of local enterprises.  

The ROK government plans to phase in a China-ROK Economic Cooperation Zone covering an area of 25.8 square kilometers between 2015 to 2020 mainly for the production of export products for the Chinese market. Priorities of investment attraction will be given to motor vehicles and parts manufacturing, machinery production, parts and materials, chemical industry, research and development technology-based industries, as well as hotels, villas, theme parks and other recreational facilities. In addition, new energy, new materials, electronic communications, culture media, fashion, cosmetics and other industries are secondary priorities for development.

This year (2015), Wenzhou has been actively planning and promoting the construction of Korea-Zhejiang (Wenzhou) Industrial Park, seeking the further improvement of the trade and investment environment. At present, 48 Korean enterprises have established presence in Wenzhou while Wenzhou’s enterprises have invested in up to 10 projects in Korea. Semir’s acquisition of stakes in ISE, the leading E-commerce service provider in Korea, marks a new chapter in the cooperation between Wenzhou enterprises and their Korean counterparts.

 “Not long ago, Wenzhou also specifically issued the “Plan for the Layout of Korean Industrial Development in Wenzhou” and offered preferential policies in terms of land use and other matters for major Korean industrial investment projects in Wenzhou in an effort to actively create conditions to promote the multi-faceted cooperation with Korea.”

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