{"id":25055,"date":"2025-06-09T12:43:05","date_gmt":"2025-06-09T05:43:05","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=25055"},"modified":"2025-06-09T12:43:05","modified_gmt":"2025-06-09T05:43:05","slug":"xinhua-silk-road-china-weihai-s-korea-incheon-building-up-momentum-to-bolster-local-cooperation","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=25055","title":{"rendered":"Xinhua Silk Road: China Weihai, S. Korea Incheon building up momentum to bolster local cooperation"},"content":{"rendered":"

BEIJING<\/span>, June 8, 2025<\/span> \/PRNewswire\/ — As east China’s Shandong Weihai and Incheon of South Korea embrace the 10th anniversary of building the local economic cooperation demonstration zone under the framework of China-South Korea Free Trade Agreement, the two sides have set new model for local cooperation between the two countries.<\/p>\n

Over the past decade, Weihai has forged new pathways for\u00a0cooperation in areas such as mechanism building, trade, cultural exchanges\u00a0and investment,\u00a0with\u00a0both sides engaging\u00a0in comprehensive cooperation and achieving\u00a0mutual benefits.<\/p>\n

For mechanism building, Weihai has established\u00a0the\u00a0China-South Korea\u00a0Free Trade Area local economic cooperation coordination office and promotion center\u00a0and\u00a0issued documents to guide and promote the construction of the demonstration zone.<\/p>\n

Weihai and Incheon\u00a0jointly set up the local economic cooperation joint committee, which has facilitated over a hundred\u00a0of cooperation consensuses.<\/p>\n

For cultural exchanges, the two cities have established\u00a0representative offices and promotion\u00a0halls\u00a0to boost understanding and interactions.<\/p>\n

The China Office of the Incheon Tourism Organization was established last\u00a0October, creating a more efficient platform for Weihai and South Korea in tourism cooperation, products promotion, and resource sharing.<\/p>\n

In terms of economic and trade cooperation, Weihai has advanced innovative measures\u00a0such as the Weihai-Incheon\u00a0four ports logistics integration and the multimodal transport\u00a0which\u00a0have established a\u00a0“golden channel” that spurred\u00a0vigorous trade development.<\/p>\n

Trade between Weihai and South Korea increased 67.8 percent from 32.09 billion yuan in 2014 to 53.86 billion yuan in 2024, accounting for 26.4 percent of the city’s total imports and exports. In 2024, the Weihai port’s imports and exports with South Korea reached 154.07 billion yuan, ranking third in the country.<\/p>\n

Cross-border e-commerce has become a new driving force for Weihai’s foreign trade development thanks to its unique geographical location and logistics advantages. The city’s cross-border e-commerce retail exports to South Korea have ranked first in Shandong Province for seven consecutive years and ranked first in the country in 2024.<\/p>\n

In terms of investment, the number of South Korean-funded enterprises in Weihai\u00a0increased by nearly 200\u00a0from 2014 to 2024, while the number of enterprises (or institutions) invested and established by Weihai in South Korea increased from 15 in 2014 to 62 in 2024\u00a0with contracted investment amount from the Chinese side doubling\u00a0to reach 140 million U.S.\u00a0dollars.<\/p>\n

Original link: https:\/\/en.imsilkroad.com\/p\/345989.html<\/a>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BEIJING<\/span>, June 8, 2025<\/span> \/PRNewswire\/ — As east China’s Shandong Weihai and Incheon of South Korea embrace the 10th anniversary of building the local economic cooperation demonstration zone under the framework of China-South Korea Free Trade Agreement, the two sides have set new model for local cooperation between the two countries.<\/p>\n

Over the past decade, Weihai has forged new pathways for\u00a0cooperation in areas such as mechanism building, trade, cultural exchanges\u00a0and investment,\u00a0with\u00a0both sides engaging\u00a0in comprehensive cooperation and achieving\u00a0mutual benefits.<\/p>\n

For mechanism building, Weihai has established\u00a0the\u00a0China-South Korea\u00a0Free Trade Area local economic cooperation coordination office and promotion center\u00a0and\u00a0issued documents to guide and promote the construction of the demonstration zone.<\/p>\n

Weihai and Incheon\u00a0jointly set up the local economic cooperation joint committee, which has facilitated over a hundred\u00a0of cooperation consensuses.<\/p>\n

For cultural exchanges, the two cities have established\u00a0representative offices and promotion\u00a0halls\u00a0to boost understanding and interactions.<\/p>\n

The China Office of the Incheon Tourism Organization was established last\u00a0October, creating a more efficient platform for Weihai and South Korea in tourism cooperation, products promotion, and resource sharing.<\/p>\n

In terms of economic and trade cooperation, Weihai has advanced innovative measures\u00a0such as the Weihai-Incheon\u00a0four ports logistics integration and the multimodal transport\u00a0which\u00a0have established a\u00a0“golden channel” that spurred\u00a0vigorous trade development.<\/p>\n

Trade between Weihai and South Korea increased 67.8 percent from 32.09 billion yuan in 2014 to 53.86 billion yuan in 2024, accounting for 26.4 percent of the city’s total imports and exports. In 2024, the Weihai port’s imports and exports with South Korea reached 154.07 billion yuan, ranking third in the country.<\/p>\n

Cross-border e-commerce has become a new driving force for Weihai’s foreign trade development thanks to its unique geographical location and logistics advantages. The city’s cross-border e-commerce retail exports to South Korea have ranked first in Shandong Province for seven consecutive years and ranked first in the country in 2024.<\/p>\n

In terms of investment, the number of South Korean-funded enterprises in Weihai\u00a0increased by nearly 200\u00a0from 2014 to 2024, while the number of enterprises (or institutions) invested and established by Weihai in South Korea increased from 15 in 2014 to 62 in 2024\u00a0with contracted investment amount from the Chinese side doubling\u00a0to reach 140 million U.S.\u00a0dollars.<\/p>\n

Original link: https:\/\/en.imsilkroad.com\/p\/345989.html<\/a>\u00a0<\/p>\n

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