Sino-South Korea E-commerce Cooperation Forum held

The Sino-South Korea E-commerce Cooperation Forum -- part of the 16th Shenyang-South Korea Week -- was held in Shenyang New World Expo Center of Shenyang, in Northeast China’s Liaoning province, on May 23.

Sponsored by the Shenyang Municipal Commerce Bureau and the government of Heping district, the forum aimed to boost exchanges and cooperation between Shenyang and South Korea in the field of e-commerce.

Around 100 e-commerce businesses and associations attended the forum, including the South Korea-China Economy and Culture Exchange Association, the Shenyang E-commerce Association and the Liaoning unit of Chinese online retailer Vipshop Holdings Limited.

Cui Wei, deputy director of Heping district, briefed participants on the location, policy, resources and the advantages Shenyang enjoys for developing its e-commerce at the forum and expressed his hopes that more South Korean businesses would invest in Shenyang in the future.

Shenyang, as capital of Liaoning province, has a good e-commerce business environment in the wake of the establishment of the China (Shenyang) Cross-border E-commerce Comprehensive Pilot Zone, the Shenyang area of the China (Liaoning) Pilot Free Trade Zone and Shenyang Comprehensive Bonded Zone.

Meanwhile, Shenyang is an equipment manufacturing base, with the largest trade logistics center city in northern China. Officials said the development prospects for the cross-border e-commerce sector in Shenyang are promising.

Both located in the Northeast Asian economic circle, South Korea is an important economic and trade cooperation partner of Shenyang.

By the end of 2018, Shenyang had approved the establishment of 4,575 Korean-funded companies, employing $6.89 billion in foreign capital.

In 2018, the total import and export volumes of Shenyang and South Korea came in at 55.32 billion yuan, ranking its fourth among the 184 countries and regions that trade with Shenyang.

Officials said the two sides will expand cooperation on the establishment and operation of a cross-border commodity exhibition center, cross-border e-commerce industrial park, market, financing, boosting the development of e-commerce in the fields of agricultural and seafood products, cosmetics, clothing, food and tourism products.