Announcement of Overseas Power Generation Strategies and Investment Plans by Chinese Companies
Expressing Interest in Gwangyang Bay Area Investment Environment as a Base for Overseas Expansion
[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Kim Gapseop, hereinafter Gwangyang Economic Authority) announced on the 28th that it successfully held an online/offline investment briefing session for Chinese companies at the Huabei Hotel in Hangzhou, China on the 27th.
The participating companies in this investment briefing were 10 manufacturing companies with intentions to expand overseas, jointly identified by the Zhejiang Province Technology Trade Measures Response Center and the Gwangyang Economic Authority. The Jeonnam Province Shanghai Office, located locally in China, attended to conduct face-to-face activities.
The participating companies were consumer goods manufacturers producing batteries, smart lighting devices, baby products, and health functional foods. They were introduced to the Gwangyang Bay Area Sefung Industrial Complex port hinterland site, the Hadong Daesong Industrial Complex foreign investment planned area, and successful cases of investment attraction from Chinese manufacturing companies.
Representatives of Chinese companies directly presented on "Overseas Investment and Development Strategies," expressing great interest in resolving tariff and non-tariff barriers caused by the US-China trade dispute, the advantages of the Gwangyang Bay Area as an investment location, and successful cases of Chinese companies utilizing Korea's FTA platform.
A Gwangyang Economic Authority official stated, "The Gwangyang Bay Area has optimal location conditions as an overseas investment hub for Chinese global companies, and by actively utilizing Korea's FTA platform and the recently concluded Regional Comprehensive Economic Partnership (RCEP), we will realize successful investment attraction."
Within the Gwangyang Bay Area, there are 23 foreign-invested companies with Chinese capital. Representative companies include HAM, producing infant formula milk powder; Gwangyang Aluminum, producing aluminum plates; and Kingtops, manufacturing feminine hygiene products.
Based on the successfully held online/offline briefing session, the Gwangyang Economic Authority plans to expand online investment briefings by region and industry, including China, Europe, and Southeast Asia.
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