Junggyeonryeon Explores Market Entry Strategies for Mid-sized Companies in Shandong Province, China

'19th "Mid-sized Companies - Shandong Province Commerce Department Meeting"
Establishment of a Platform for Continuous Collection of Issues from Local Mid-sized Companies

On the 19th, the Korea Federation of Medium-sized Enterprises held the 'Medium-sized Enterprises - Shandong Provincial Department of Commerce Meeting' to discuss support measures for expanding the entry of medium-sized enterprises into Shandong Province and revitalizing exchanges.

Shandong Province ranks third in trade volume with Korea after Jiangsu and Guangdong Provinces. Currently, about 4,500 Korean companies, including major medium-sized enterprises such as Euracorporation, Ewha Diamond Industry, and Fashion Group Hyungji, have entered the region. The Shandong Provincial Department of Commerce establishes and implements policies related to foreign trade, foreign investment, and the promotion of regional investment, commerce, and consumption.

The fifth from the left is Lee Hojun, Executive Vice President of the Korea Federation of Medium-sized Enterprises, and the sixth is Choi Honggwang, Deputy Director of the Shandong Provincial Department of Commerce.
[Photo by Korea Federation of Medium-sized Enterprises]

The meeting was attended by Lee Hojun, Executive Vice Chairman of the Korea Federation of Medium-sized Enterprises, Choi Honggwang, Vice Director of the Shandong Provincial Department of Commerce, and about 10 executives and employees from medium-sized enterprises operating local subsidiaries in Shandong, such as YG-One and Sekonix.

The medium-sized enterprise representatives stated, "Labor and environmental regulations in Shandong, as well as the complex tax system, are burdensome for companies," and added, "Different laws applied by various institutions make it difficult to comply with administrative procedures."

Choi Honggwang, Vice Director of the Shandong Provincial Department of Commerce, said, "Shandong is a key region promoting new and high-level external openness and places great importance on economic cooperation with Korea," adding, "Shandong and the Korea Federation of Medium-sized Enterprises will establish a permanent platform for receiving difficulties, actively identify on-site challenges faced by medium-sized enterprises, and strive to create a smooth business environment."

Lee Hojun, Executive Vice Chairman of the Korea Federation of Medium-sized Enterprises, emphasized, "Korea and China are close neighbors and key business partners in addressing current issues such as digital transformation, trade revitalization, and supply chain stabilization," and stated, "We will actively communicate with the Shandong Provincial Department of Commerce to create a legal and institutional environment that supports the stable local settlement and smooth business operations of medium-sized enterprises entering Shandong and to resolve difficulties."