Shandong province has included the construction of the China-South Korea Yantai Industrial Park in its 13th Five-Year Plan recently. At the same time, a joint conference system was established. The provincial government has also launched suggestions on the supporting of the construction of the park.

Yantai municipality has set up the China-South Korea industrial development guidance fund and the China-South Korea Yantai Industrial Park development fund with an initial input of one billion and five billion yuan respectively. The China-South Korea Railway Logistics Park and Yantai International Shipping Center are under construction. The second session of China-South Korea Industrial Park cooperation mechanism will be held in China this year. And Shandong provincial government will officially report the construction plan of the industrial park to the State Council.

China-South Korea Industrial Park, aiming at the building of the city of China-South Korea life science, an integrated area of China-South Korea new industries, a comprehensive international logistics hub of the Northeast Asia and a platform for the strategic cooperation of "Belt and Road" initiative. The park is expected to achieve a complementary integration in industry, technology and market between the two sides.

source: sdchina.com