Wuxi to deepen cooperation with Japan and South Korea

Wuxi Deputy Mayor Wang Jinjian, along with a Jiangsu provincial delegation, led an economic and trade visit from May 26 to June 1 to South Korea and Japan to deepen cooperation.

Leading enterprises in South Korea were invited to take part in the conference on May 27, including SK Group, Samsung SDI and LG Chemical. During SK Hynix Chairman Lee Seok-hee's speech, he spoke highly of the business environment in Wuxi National Hi-tech District.

Jiangsu province also signed an agreement with SK Group to deepen cooperation in the semiconductor industry, medicine, education and finance.

SK Hynix announced the completion of an expanded fabrication plant (or 'C2F') worth $8.6 bliion in Wuxi National Hi-tech district on April 18. With the new C2F, SK Hynix is expected to take over 45 percent of the DRAM production market in China. The annual sales of the Wuxi company is expected to reach $33 billion.

The delegation paid a three-day visit to Japan from May 29, aiming to strengthen cooperation between Wuxi and Japan in the fields of intelligent manufacturing, technological innovation, new energy, biomedicine and cultural creativity.

During the cooperation meeting in Japan, a smart battery project with a total investment of $3.3 billion and an innovative smart garden project worth $1.1 billion signed agreements to settle in Wuxi.