Korean Economy News
Maekyung Global Forum to kick off on May 21 in Shenzhen, China

Kang Gye-man and Choi Mira

Maekyung Media Group hold’s this year’s Maekyung Global Forum in Shenzhen May 21-22 to give Korean enterprises first-hand opportunity to experience and seek out business ventures in China’s hotbed for innovation.

It will be the 27th global forum held by the Korea’s leading media group that has been sponsoring the global forum in overseas countries since 2004 to provide business people and financiers with opportunities to build ties and networks.

About 100 Korean business leaders including CJ Group Chairman Sohn Kyung-shik and Samsung Electronics Vice Chairman Yoon Boo-keun will attend this year’s forum that will be held in Shenzhen, Guangdong Province, a city that is being strategically fostered an innovation cradle by the Chinese government.

The Chinese government launched a state project in 2018 named Guangdong-Hong Kong-Macao Greater Bay Area to connect nine cities of Guangdong including Shenzhen, Hong Kong and Macao that will command 56,000 square kilometers. It aims to set up a cluster in Shenzhen by 2035 to promote IT, bio, 5G, eco-friendly vehicle, renewable energy and financial industries.

The forum will be attended by prominent business figures including Sohn, Yoon, the Korea Federation of Small and Medium Business (KBIZ) Chairman Kim Gi-moon, the Korea Chamber of Commerce and Industry (KCCI) Vice Chairman Kim Joon-dong, LG Mtron Chairman Koo Ja-eun and LG Innotek CEO Jeong Cheol-dong.

Vice trade minister Cheong Seung-il, the Korea International Trade Association (KITA) Chairman Kim Young-ju, National Pension Service (NPS) Chairman Kim Sung-joo, former leader of the ruling Democratic Party Choo Mi-ae and head of the National Policy Committee of the National Assembly Min Byung-doo will also join the event to explore ways to strengthen the bilateral relationship.

The participants will visit Huawei’s Shenzhen campus on May 21 and check out the China’s telecom giant’s new Ox Horn campus in Dongguan. The new campus has been built in European style and names of 12 European cities. They will also visit the headquarters of the world’s largest drone manufacturer DJI and leading mobile game developer Tencent the next day.

Guangdong, the China’s richest and most populous province, is also Korea`s largest trading partner in the country. Its trade volume with Korea last year amounted to $74.9 billion, accounting for 28 percent of the total trade between the two countries. As many as 1,400 Korean companies are currently doing business in the province.

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