KSICF: A booster for China-South Korean trade

Exhibitors talk with customers at the third KSICF in Weihai, Shandong province. [Photo by Wang Qian/chinadaily.com.cn]

A vital platform for China-South Korean exchanges and a highland for foreign economic and trade cooperation, the third South Korea (Shandong) Import Commodity Fair (KSICF) kicked off in Weihai city of Shandong province on July 28.

The event is aimed at promoting supply-demand matchmaking and helping participants explore new markets and business opportunities.

Themed "Steady development for a sustainable future", KSICF is the first import-themed exhibition in Shandong targeting the South Korean market. It is also seen as an important means of deepening Regional Comprehensive Economic Partnership (RCEP) ties, implementing the Belt and Road Initiative and bolstering dual-circulation development paradigm.

This year's KSICF focuses on cross-border e-commerce and characteristic industries, and aims to advance the integration and high-quality development of foreign trade. The event features six themed activities and 20 events, including procurement matchmaking meetings, cross-border e-commerce product selections, new product launches, and livestreaming sales.

More than 400 companies from 24 countries and regions attend the third KSICF in Weihai, Shandong province. [Photo by Wang Qian/chinadaily.com.cn]

Jointly organized by the Weihai government, the Department of Commerce of Shandong Province and the Consulate General of the Republic of Korea in Qingdao, the two-day event spans 45,000 square meters that hosts 1,690 booths and four exhibition halls featuring themes related to China-South Korean achievements, cross-border e-commerce, international exchange and local brands.

This year's KSICF has attracted more than 400 companies from 24 countries and regions, including South Korea, Japan, the Netherlands, Australia, Russia, Malaysia, Vietnam, Hong Kong, Macao and Taiwan. Thirty-two Fortune Global 500 companies and industrial leaders such as Samsung, Hyundai, Amazon, Google, Alibaba and SF Express are also attending the event.

Weihai is now a key investment destination for South Korean companies. According to official statistics, Weihai had 2,646 companies - 55 percent of the total number of companies in the city - with trade relations with South Korea in 2022.

Another 106 South Korean-funded enterprises were set up in the city and the actual use of South Korean investment in Weihai totaled $166.58 million last year.

The event is aimed at promoting supply-demand matchmaking and helping participants explore new markets and business opportunities. [Photo by Wang Qian/chinadaily.com.cn]