Yantai, S. Korea to strengthen exchange and cooperation

The city of Yantai in East China's Shandong province held a conference on April 26 to promote high-tech cooperation between China and South Korea.

At the conference, Korean enterprises displayed more than 190 high-tech results in different fields such as the modern chemical industry, high-end equipment manufacturing, new materials,new generation information technology, and new energy. One hundred and six high-tech enterprises in Shandong province also took part in the conference, seeking for international cooperation.

Liu Weimin, the director of the Department of Science and Technology of Shandong Province, said at the opening ceremony that Shandong is making efforts to promote opening-up and lure high-tech talents to support technological innovation.

South Korea has developed into Yantai's main foreign trade partner and its largest source of foreign capital and tourists. The city's foreign trade with the country rose to $8.8 billion last year and attracted 3,769 investment projects from South korea.

Yantai boasts convenient transportation links and a solid industrial foundation as it promotes cooperation with South Korea. In 2017, the city set up the China-S. Korea Yantai Industrial Park which is now a major investment destination for Korean firms.

Zhang Yongxia, mayor of Yantai, said the government will continue to foster an international business environment by streamlining customs clearance procedures and making market access easier for foreign companies.

At the opening ceremony, 17 enterprises expressed their intention of cooperating with Korean companies and signed cooperation agreements.

The conference was jointly hosted by the Department of Science and Technology of Shandong province, the Yantai municipal government, the Korean Technical Venture Consortium and the Korea Institute of Industrial Technology (KITECH).

A promotion conference for high-tech cooperation between China and South Korea is held in Yantai, East China's Shandong province on April 26. [Photo provided to chinadaily.com.cn]