According to Yonhap News,

(JEONJU=Yon Hap News)North Jeolla Province and the Korea Agency for Saemangeum Development & Investment (KASDI) co-hosted a Korea-China international seminar to discuss ways to develop the Korea-China economic cooperation complex on June 23 at the Federation of Korean Industries, Seoul.

“Companies should be the key developer, and one that adopts developing methods supported by the government for efficiency and sustainability. The most realistic method would be for companies from each country to participate together, to share profits and reduce investment risks,” said Qingdao University Professor Xu Yong-hui.

“Korea has a competitive edge in new materials, semiconductors, communications-electronics, IT and automotive parts. The Korea-China economic cooperation complex in Saemangeum can bring about economic benefits through acquiring Korea’s advanced technology and business know-how,“ he added.

Huang De, Country Manager of the Bank of China’s Seoul branch, said, “A system should be established to boost finances in the economic cooperation complex that can support corporate development... We should encourage the use of national currency by Korean and Chinese companies to lower currency risks and corporate costs while increasing financial income. “

Dr. Cho Chul (PhD) of the Korea Institute for Industrial Economics & Trade has suggested automotive parts, agricultural machinery, food and the Korean Wave as the industrial cooperation sectors in which Korea and China should work together. He also pointed out the need to build a Korea-China industrial cooperation center in Saemangeum.

“We should carry out joint research by combining China’s advanced basic science and Korea’s IT products and technology. In addition, it is vital to produce a joint standard and certification to respond to international standardization,” he said.

lc21@yna.co.kr

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