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KOTRA to facilitate Korean companies enter the city of Chongqing, China

According to Yonhap News,

(SEOUL=Yonhap News) On May 30, KOTRA announced that it held "Korea-Chongqing Business Roundtable" at Shilla Hotel, Seoul.

The roundtable was attended by Tang Liangzhi, the Mayor of Chongqing, and 10 companies already doning business in Chongqing or wanting to enter the market, including LG Chemicals and Hyundai Mobis.

Chongqing, home to 32 million population, is the largest cluster of automobiles and IT in southwestern China. It recently has made progress in high-tech industries including robots.

The China-Europe rail freight service, a crucial part of the Belt and Road Initiative also first started in Chongqing. 90 percent of laptops produced in Chongqing is exported to Europe through this route.

In Chongqing, 249 Korean large and SMEs have presence, including Hyundai Motors, LG Chemicals, Hanwha, SK Hynix and Hankook Tire. As of 1Q 2018, the trade volume between Korea and Chongqing reached USD 1.4 billion (KRW 1.67 trillion), up 27 percent from the previous year.

Mayor Tang Liangzhi said, "Chongquing is historically meaningful place, as the Provisional Government of the Republic of Korea was located," adding that "With its impotance in economics growing recently as a base for southwestern China, we hope to see many Korean companies doing business here."

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Source Text

Source: Yonhap News (May 30, 2019)

** This article was translated from Korean.

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