Gyeonggawon Signs Memorandum of Understanding for Exchange and Cooperation with Beijing and Two Other Chinese Cities

Gyeonggi-do Economic Science Promotion Agency held a plaque unveiling ceremony for the Chongqing Liangjiang New Area Administrative Committee in China.

Startups and small and medium-sized enterprises (SMEs) in Gyeonggi Province are expected to accelerate their expansion into the Chinese market.

The Gyeonggi Provincial Economic Science Promotion Agency announced that Director Kang Seong-cheon visited Zhongguancun in Beijing, Linyi City, and Chongqing City in China from April 25 to May 2, signing a total of three memorandums of understanding (MOUs).

This visit to the three Chinese cities is a follow-up measure to the March "Gyeonggi Journalists Club Invitation Forum," attended by Gyeonggi Governor Kim Dong-yeon, aimed at establishing a foundation for local SMEs and venture companies to enter the Chinese market by linking four Gyeonggi Business Centers (GBCs) in China.

Following the signing of these agreements, the agency expects that, in connection with the four Gyeonggi Business Centers in China (Shanghai, Shenyang, Guangzhou, Chongqing), companies will be able to enter the B2B market in the Chinese live commerce sector through Wanghong (influencers).

Additionally, Wanghong will be invited to the "G-FAIR KOREA 2024," Korea's representative comprehensive exhibition for SMEs, scheduled for the end of October this year, to conduct live commerce on-site.

Director Kang Seong-cheon of the agency emphasized, "The relationship with China in the economic sector is very important, and the number of export companies to China in Gyeonggi Province reaches about 11,000. This visit to the three Chinese cities will serve as an opportunity to strengthen the foundation for expanding the entry of local SMEs and venture companies into the Chinese market."

Meanwhile, the agency plans to consolidate its company-wide capabilities this year to support local companies' overseas market entry by achieving 4,000 overseas marketing cases through the export platform (gbcprime), $5 billion in export consultations, and $1 billion in export contracts.