• Possible cooperation with Shandong province in the fields of logistics and low carbon industry
    2022-11-17 hit 1195

    KITA discusses possible avenues of cooperation with Shandong province, China in the fields of logistics and low carbon industry

    The Korea International Trade Association (KITA) and the Shandong Provincial People's Government co-hosted the “Sixth Forum on Economic & Trade Cooperation between Korea and Shandong Province” on November 9th at COEX in Gangnam-gu, Seoul. This forum has been held since 2015 to discover opportunities of economic cooperation between Korea and Chinese regional governments. Today’s event was held via dual live streaming by connecting Seoul and Shandong Hotel in Jinan City in China via the Internet.

    Participants of the forum include, Christopher Koo, the Chairman of KITA, Jae-ho Jeong, the Korean ambassador to China, Li Ganiie, the Communist Party Secretary of Shandong province, Zhou Naixiang, the Governor of Shandong province and Xing Haiming, the Chinese ambassador to the Republic of Korea.

    In his congratulatory speech, Chairman Koo mentioned, “More than 4,200 Korean enterprises have established business operations in Shandong province and are not only contributing to local job creation and economic growth but also playing a prime role in promoting bilateral trade and investment between Korea and China.” He also added, “I would like to highlight the importance of discovering potential areas of cooperation tailored to the needs of both Korea and Shandong province, which will serve as tools to support both regions to play a key role during the period of an ongoing shift in the global economic order.”

    Chairman Koo also had a dialogue with Secretary Li of Shandong province and stressed, “Bilateral cooperation between Korea and Shandong province should be reinforced to be elevated to the next level by taking advantage of Korea - China Free Trade Agreement (FTA) and the Regional Comprehensive Economic Partnership (RCEP)” and also added, “I especially wish an expansion of cooperation in the hydrogen economy sector to materialize an environmentally-friendly economy that involves less carbon emissions.” Secretary Li responded, “Shandong province will not spare support to encourage bilateral cooperation in the field of hydrogen energy.”

    Opening remarks were delivered by Mr. Zhou, the Governor of Shandong province, in which he mentioned, “It is my sincere hope that Korea and Shandong province to be engaged in active cooperation to make the best use of RCEP, realize a low carbon economy and collaborate on international logistics issues.”

    During the forum, Researcher Gwang-seok Han from Korea Maritime Institute delivered a presentation on logistics cooperation. The researcher stressed, “It is necessary to achieve the cooperation on cold chain logistics and the construction of a purpose-built warehouse specially for products being traded through e-commerce transactions between Korea and Shandong province.” Additionally, in regards to the cooperation in the eco-friendly sector involving less carbon emissions, Nak-hyeon Kwon, the Head of Hydrogen Convergence Alliance mentioned, “It is imperative to be engaged in joint projects to develop technologies in the hydrogen mobility and fuel cell sectors and encourage the joint use of such technologies.”

    [This news is provided by Newsis]

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