YANCHENG, China, Dec. 04, 2024 — Yancheng, a Jiangsu city on the Yellow Sea coast, boasts the strongest ties to South Korea and the highest concentration of South Korean-invested businesses in China. On November 29th, the China-South Korea (Yancheng) Industrial Park hosted an economic and trade cooperation exchange conference, attracting over 300 international attendees. Themed “United for Progress, Advancing New-Quality Development,” the conference focused on open collaboration and high-quality growth, with participation from Fortune Global 500 companies and top industry players. Several agreements were signed, covering emerging sectors like automobiles, new energy, new materials, and next-generation information technology.

Kim Young-jun, Consul General of the Republic of Korea in Shanghai, highlighted the increased economic, cultural, and tourism exchanges between China and South Korea, citing the China-South Korea (Yancheng) Industrial Park as a prime example of successful collaboration. He commended Yancheng’s efforts to improve its investment environment, fostering stronger business partnerships. Bilateral trade between Yancheng and South Korea surged 31.8% last year.

The China-South Korea (Yancheng) Industrial Park, a pioneering national initiative, is the only national-level platform for South Korea-related cooperation in the Yangtze River Delta. The Yancheng Economic and Technological Development Zone, its core, houses nearly 400 South Korean-funded companies, including Kia, SK, and Mobis. It also encompasses key national and provincial industrial platforms such as the China-Japan-South Korea (Jiangsu) Industrial Cooperation Demonstration Zone, the China (Jiangsu) Pilot Free Trade Zone Innovation Development Area, and a national foreign trade transformation and upgrade base.

The Yancheng Economic and Technological Development Zone has prioritized development in automobiles, crystalline silicon photovoltaics, power batteries, and modern services. It’s rapidly becoming a globally competitive advanced manufacturing center with a modern industrial system. Its core industrial clusters have exceeded 100 billion yuan in output for three consecutive years, demonstrating significant value-chain cluster growth. Yancheng is emerging as the world’s largest “New Energy Optics Valley,” the “Modern Automotive City” on China’s eastern coast, and a nationally recognized “Capital of Lithium Batteries.”

Source: China-South Korea (Yancheng) Industrial Park

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