South Korean investors strengthen ties with Weihai in various aspects

A group of companies and institutions from South Korea recently sent representatives to visit the Weihai Economic Development Zone in East China's Shandong province, aimed at further strengthening mutual cooperation in modern logistics, commercial finance and cultural tourism.

During their stay in Weihai, the representatives learned about the latest progress made by the local China-South Korea Free Trade Zone and highly recognized the trade cooperation between the two countries.

They also participated in an academic conference and a symposium that focus on jointly combatting climate change.

At the symposium, three memorandums of understanding were signed, which will contribute to further cooperation in environment, health, logistics, trade, food, law and education.

Over the past few years, Weihai has promoted opening-up to South Korea in all respects. The Weihai Economic Development Zone is currently home to 430 South Korean-funded companies and its annual trade volume with South Korea has exceeded 18 billion yuan ($2.48 billion).

"... We have continued to improve the industrial parks here, as well as to optimize and upgrade the industrial structure," said Liu Zengbo, director of the Commerce Bureau of Weihai Economic Development Zone.

Liu also said efforts will be made to provide high-quality services and foster first-class business environment, thereby attracting more foreign companies to invest in the zone.