Jiangsu Province and South Korea held an economic and trade cooperation exchange in Seoul on June 20, attracting more than 500 people from government departments and the business community of South Korea. Xin Changxing, secretary of the CPC Jiangsu Provincial Committee, made a keynote speech at the meeting.

In China’s provincial-level regions, Jiangsu boasts the largest trade volume with South Korea, accounting for 25% of China’s total. Jiangsu is also home to over 6,500 South Korea-invested enterprises, making it the top investment destination for the country.

Xin said Jiangsu is across the sea from South Korea and enjoys unique advantages and solid foundation in China-South Korea friendship. Companies invested by South Korea have seized opportunities from China's reform and opening up as well as the development in the new era. They have increased their investment in Jiangsu and realized their own growth while bringing more vitality to the province. Meanwhile, more and more Jiangsu enterprises are investing in South Korea.

Xin also said that Jiangsu, located at the Yangtze River Delta and the Yangtze River Economic Belt, is willing to work closely with South Korea, deepen the ties based on the sister-city relationship, and improve people-to-people exchange in various fields, such as education, culture, and youth, thus enhancing mutual trust.

Xing Haiming, Chinese ambassador to South Korea, emphasized that the bilateral relations have developed rapidly and comprehensively, especially in economic and trade cooperation, during the 32 years since the establishment of diplomatic relations between the two countries. The fruitful results have demonstrated the deep foundation and great potential of economic cooperation between the two nations. Jiangsu's economy ranks at the forefront in China, and over the years, the province has continued to build a first-class business environment and contributed to the stable and smooth industrial and supply chains, playing an important role in promoting economic and trade cooperation between the two countries.

In the meeting, representatives from South Korean companies including LG Chem, Jinyang, and Shanjin Optoelectronics made speeches as well. Cities of Jiangu, including Nanjing, Suzhou, Wuxi, Changzhou and Yancheng, introduced their industrial parks, manufacturing industry and new energy cooperation projects.

The exchange also unveiled the agreements for 15 projects with a total investment of $3.51 billion, covering low-carbon technology, intelligent manufacturing, medical equipment, and cultural exchanges.