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Chinese Government Signed an Agreement with South Korean Government on Co-establishment of Sino-Korea Industrial Park in Liangjiang New Area of Chongqing

On September 6th, the signing ceremony of Co-establishment of Sino-Korea Industrial Park Memorandum between Chinese government and South Korean government was held grandly in Changchun, indicating that the two governments will cooperate with each other to establish Sino-Korean Industrial Park in Liangjiang New Area. Singapore is the first foreign country with which Chinese government cooperated to establish Suzhou Industrial Park and Sino-Singapore Tianjin Eco-city. South Korean is the second foreign country with which Chinese government will cooperate to establish industrial park in China.
 
On December 1st of 2010, establishment of Sino-Korean Industrial Park in Liangjiang New Area was proposed in the Seventeenth Meeting of Sino-Korean Economic & Trade Joint Committee. Since then, Liangjiang New Area has held many special promotion conferences and enterprise matchmaking conferences in Seoul of South Korea, Beijing and Chongqing one after another under the promotion of Ministry of Commerce of the People’s Republic of China, Ministry of Foreign Affairs & Trade of South Korea and Ministry of Knowledge Economy of South Korea. On June 15th of 2011, the Eighteenth Meeting of Sino-Korean Economic & Trade Joint Committee agreed officially the co-establishment of Sino-Korean Industrial Park in Liangjiang New Area of Chongqing, and duly signed the Cooperation Memorandum between the two governments and held the opening ceremony for the park.
 
According to the agreement, the two governments will comprehensively promote the investment cooperation of economy and trade between China and South Korea within the area of 1,200 square meters in Liangjiang New Area. The two governments agreed to create a favourable investment environment for South Korean-funded enterprises in the following areas, especially including Liangjiang International Motor City, Liangjiang International Cloud Computing Centre, Jiangbeizui Financial Centre, Logistics Processing Base of Bonded Port Area, Lijia International Commerce & Trade Centre of New North Zone, making these areas as global distribution node for South Korean competitive enterprises and the distribution flourish area for central and western regions of China.
 
The starting zone of Sino-Korean Industrial Park is located at Longsheng district of Liangjiang New Area. It will mainly develop electronic industries, cultivate positively new industries (including cultural creation, digital entertainment, etc.) and choose the best time to develop other industries (like new energy industry, etc.), forging this zone into the high-end industrial base which will take the introduction of South Korean competitive manufacturing industry and cultural creation industry as main industries. Relevant supporting facilities will be established in this zone according to South Korean conventions and manners, forging this zone into the cultural homeland and the second hometown in central and western area of China for South Korean investors. At present, a batch of South Korean organizations and enterprises has already settled in Liangjiang New Area. The 100th Global Trade Pavilion of South Korea has been opened in Liangjiang New Area. Hankook Tire has developed the biggest factory of China in Liangjiang New Area. South Korean Lotte Co., Ltd., the retail giant of South Korea and one of world Top 500 enterprises, also plans to invest in Liangjiang New Area.
 
On September 14th, leaders from Chinese government and South Korean government will come all the way to Chongqing to attend the opening ceremony of Sino-Korean Industrial Park.
   

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