Invest KOREA News
- Home
- About Us
- Newsroom
- Invest KOREA News
More than 94 Chinese Companies Attend KOTRA Investment Conference
They came from sectors including finance, investment, trade, services, infrastructure, construction, bio and medicine, agriculture, mining and real estate.
“More investment to Korea is a big trend,” said Liu. “A promising cooperative model is to create more opportunities by expanding yuan in bilateral trade and providing equity investment and advancing together into sectors with outstanding technology.”
“This year marks the 22nd anniversary of diplomatic ties between Korea and China. Thus, it is high time for the two countries to enter the global market together. It is vital to build a complete partnership of economic cooperation,” said KOTRA CEO Oh Young-ho.
According to KOTRA, Chinese investment in Korea is not large and mostly equity investment on the Korean Wave. Chinese investors have focused mainly on real estate in Jeju Island, cultural contents and fashion. But investment trends are changing, said KOTRA. Chinese direct investment in Korea in the first half of the year was USD 770 million, a whopping 670 percent increase from the same period last year.
The number reaches USD 1.5 billion when including trans-shipping investments via Hong Kong and Singapore, marking a 1,500 percent increase year-on-year.
Representative examples are the investment of China’s Tencent Holdings Ltd in Korea’s CJ Games and the investment of China’s Greenland Holdings Group to build twin towers in Jeju Island, Korea.
Domestic industries have high expectations for new investments following the visit of President Xi. Chinese companies are turning their focus to consumer goods, including food and drinks, from energy and infrastructure.
“Chinese investment in Korea, which had stalled since a withdrawal of investment in Ssangyong Motor, will greatly increase starting this year,” said a KOTRA official. “The strategic partnership with Chinese companies will help Korean companies be proactively engaged in the domestic market.”
KOTRA has signed a memorandum of understanding (MOU) with China’s Foreign Affairs Development Bureau of the Ministry of Commerce to expand cooperation in investment and trade. The MOU is to share the trade and investment-related information of both countries, promote joint projects and strengthen mutual activities.
prayerahn@yna.co.kr Source Text
Source: Newsis (July. 03, 2014)
** This article was translated from the Korean.
Date
2014.07.09
(SEOUL=NEWSIS) KOTRA held an investment conference for Chinese companies in Korea following President Xi Jinping’s first visit to the country last week.
Held July 3 in an effort to attract investment in Korea, the conference was attended by 123 Chinese business leaders who accompanied President Xi.
They came from sectors including finance, investment, trade, services, infrastructure, construction, bio and medicine, agriculture, mining and real estate.
“More investment to Korea is a big trend,” said Liu. “A promising cooperative model is to create more opportunities by expanding yuan in bilateral trade and providing equity investment and advancing together into sectors with outstanding technology.”
“This year marks the 22nd anniversary of diplomatic ties between Korea and China. Thus, it is high time for the two countries to enter the global market together. It is vital to build a complete partnership of economic cooperation,” said KOTRA CEO Oh Young-ho.
According to KOTRA, Chinese investment in Korea is not large and mostly equity investment on the Korean Wave. Chinese investors have focused mainly on real estate in Jeju Island, cultural contents and fashion. But investment trends are changing, said KOTRA. Chinese direct investment in Korea in the first half of the year was USD 770 million, a whopping 670 percent increase from the same period last year.
The number reaches USD 1.5 billion when including trans-shipping investments via Hong Kong and Singapore, marking a 1,500 percent increase year-on-year.
Representative examples are the investment of China’s Tencent Holdings Ltd in Korea’s CJ Games and the investment of China’s Greenland Holdings Group to build twin towers in Jeju Island, Korea.
Domestic industries have high expectations for new investments following the visit of President Xi. Chinese companies are turning their focus to consumer goods, including food and drinks, from energy and infrastructure.
“Chinese investment in Korea, which had stalled since a withdrawal of investment in Ssangyong Motor, will greatly increase starting this year,” said a KOTRA official. “The strategic partnership with Chinese companies will help Korean companies be proactively engaged in the domestic market.”
KOTRA has signed a memorandum of understanding (MOU) with China’s Foreign Affairs Development Bureau of the Ministry of Commerce to expand cooperation in investment and trade. The MOU is to share the trade and investment-related information of both countries, promote joint projects and strengthen mutual activities.
prayerahn@yna.co.kr Source Text
Source: Newsis (July. 03, 2014)
** This article was translated from the Korean.