Wuxi, South Korea cooperation bears fruitful results

A view of Wuxi. [Photo/Wuxi Daily]

Wuxi in East China's Jiangsu and South Korea share the same goals although they are far apart, and over the years their cooperation has yielded fruitful results.

To date, Wuxi and its districts and counties have established sister-city relations with six counterparts in South Korea while Wuxi has forged friendly exchange relations with two South Korean cities.

Both sides have maintained frequent exchanges in trade, culture, education, sports, environmental protection, transportation, and healthcare since the friendship was first established in 2008.

Wuxi is a deserving hub of South Korean investment, and vice versa. As of the end of 2022, South Korean businesses had invested $25.84 billion in 742 companies in the city while as of February 2023 Wuxi businesses had invested $210 million in 39 projects in South Korea.

Wuxi authorities have been trying to create a favorable business environment for South Korean companies with considerate measures and efficient services, including launching a South Korean version of its investment service platform and explanations of tax reduction policies.

In the future, Wuxi and South Korea will carry out cooperation in more fields and Wuxi will bring in more projects funded by South Korean companies.