Gyeonggi-do Takes Steps to Minimize Corporate Damage Following Suspension of Short-term Chinese Visas

Gyeonggi Province is holding a response strategy meeting on the 20th at the Suwon Convention Center to minimize damage to local export companies caused by China's suspension of short-term visas. Photo by Gyeonggi Provincial Government

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is utilizing the Gyeonggi Business Center (GBC) in China to support urgent tasks requiring business trips to China, such as contracts, in order to reduce the damage to export companies caused by China's sudden suspension of short-term visa issuance for Koreans.

On the 23rd, Gyeonggi Province announced that on the 20th, it held a meeting at the Suwon Convention Center, connecting via video conference with the Gyeonggi Business Center in China to analyze the impact of the suspension of short-term visa issuance on local companies and to hear the voices of companies in the province, followed by discussions on strategies for provincial-level corporate support measures.

At the meeting, the province decided to identify urgent China-related business such as export contracts through the Gyeonggi Exporters Association and the Gyeonggi FTA Utilization Support Center, and to operate an export emergency response team through the Gyeonggi Business Center in China until the situation is resolved. The export emergency response team will respond to urgent needs of export companies, including monitoring local trends, buyer meetings, and participation in exhibitions on their behalf.

Additionally, various opinions were exchanged to listen to the voices of export companies, export support-related organizations, and local Chinese stakeholders regarding this measure, and to explore breakthroughs at the local government level.

The overseas Gyeonggi Business Centers were established to respond to the trade demand of Gyeonggi Province, which accounts for 33% of the nation's export companies (the highest nationwide).

They assist small and medium-sized enterprises lacking export capabilities in developing overseas sales channels and handling local export operations. Their main tasks include providing free video conference support, monitoring local trends, and local communication.

Gyeonggi Province operates overseas business centers in 12 locations across 9 countries worldwide. Within China, there are four GBCs located in Shanghai, Shenyang, Guangzhou, and Chongqing.

Lee Min-woo, Director of the Investment and Trade Division of Gyeonggi Province, emphasized, "To prevent disruptions to the work of local export companies caused by the suspension of Chinese visas, we will actively support by utilizing the overseas Gyeonggi Business Centers and cooperating with the Gyeonggi Exporters Association and the FTA Utilization Support Center, mobilizing all available resources to minimize damage to export companies in the province."