ID :
205680
Wed, 09/07/2011 - 06:55
Auther :
Shortlink :
https://oananews.org//node/205680
The shortlink copeid
S. Korea, China agree to build industrial park
HONG KONG, Sept. 7 (Yonhap) -- South Korea and China have agreed to cooperate in building an industrial park in northeastern China, Seoul officials said Wednesday, a move expected to boost cooperation between the two Asian economies.
Under a memorandum of understanding (MOU), the South Korean Ministry of Knowledge Economy and the Chinese Ministry of Commerce will work together to construct the industrial complex in Changchun, the capital and largest city of Jilin Province.
The industrial park will house an international automobile city, a global cloud computing center, a financial center and a logistics and trade center, the officials said.
A number of South Korean firms such as retail giant Lotte Group and Hankook Tire Co. plans to invest in the area, they said.
However, a detailed timetable for the project was not disclosed.
Bilateral trade between the two countries reached US$188.4 billion last year. The volume is expected to top $300 billion in 2015.
China is the largest buyer of South Korean-made goods and has contributed to Seoul's sizable trade surplus in recent years, while South Korea is China's third-largest trading partner after the United States and Japan.
Under a memorandum of understanding (MOU), the South Korean Ministry of Knowledge Economy and the Chinese Ministry of Commerce will work together to construct the industrial complex in Changchun, the capital and largest city of Jilin Province.
The industrial park will house an international automobile city, a global cloud computing center, a financial center and a logistics and trade center, the officials said.
A number of South Korean firms such as retail giant Lotte Group and Hankook Tire Co. plans to invest in the area, they said.
However, a detailed timetable for the project was not disclosed.
Bilateral trade between the two countries reached US$188.4 billion last year. The volume is expected to top $300 billion in 2015.
China is the largest buyer of South Korean-made goods and has contributed to Seoul's sizable trade surplus in recent years, while South Korea is China's third-largest trading partner after the United States and Japan.
