Incheon Free Economic Zone Authority Hosts Korea-China Future Advanced Industry Forum... Cooperation in Four Key Areas Including Bio and Health

On the 14th, the Incheon Free Economic Zone Authority held the 'Korea-China Future Advanced Industry Forum' at Songdo Convensia to explore ways to strengthen business cooperation and development directions in four core industries including bio and health.

The event, co-hosted with the Embassy of China in Korea, was organized to seek new cooperation models and development directions between Korea and China in the future advanced industry sector in response to changes in the global trade order and global supply chains.

Incheon City has been designated as a pilot city for the Korea-China Free Trade Agreement (FTA) and has continued various exchanges and cooperation with China. Taking this forum as an opportunity, the Incheon Free Economic Zone Authority plans to discover new investment demands from China and create a global advanced industrial complex centered on these demands in the southern part of Ganghwa, where the free economic zone is being expanded.

To this end, the forum was organized to include representative companies from both countries in four fields: ▲bio and healthcare ▲mobility and automobiles ▲green energy ▲smart logistics, aiming to create practical business opportunities, discover trade and investment demands between Korea and China, and conduct in-depth discussions and networking for follow-up projects.

From China, numerous companies in the advanced industry sector such as Haixiang Pharmaceutical, Horizon, G7 Connect, and Guoneng Zhongdian Group participated to showcase new technologies and discuss practical business cooperation methods between the two countries.

The "Korea-China Future Advanced Industry Forum," hosted by the Incheon Free Economic Zone Authority and the Embassy of China in Korea, is being held on the 14th at Songdo Convensia in Incheon. Photo by Incheon Free Economic Zone Authority

The forum opened with presentations proposing long-term cooperation models between the two countries. Speakers included Ahn Jong-beom, President of the Policy Evaluation Institute; Li Erli, Director of the Pangol Research Institute; and Zhao Hejuan, CEO of Taimeiti, who presented cooperation plans for Korea-China future advanced industries.

President Ahn emphasized Incheon’s global competitiveness in airport economic zones, global communities, and urban infrastructure, stating, "We will utilize the Korea-China FTA to establish joint ventures in fields led by China such as mobility, automobiles, and green energy to respond jointly."

In the following event, participants had an investment attraction briefing (IR) targeting Korean and Chinese companies for investment attraction and future advanced industry cooperation plans by the Incheon Free Economic Zone Authority, as well as business networking opportunities. They also visited the Incheon Startup Park, Smart City Operation Center, and Yonsei University K-NIBRT Project Group (Korean-style Bio Process Workforce Training Center) to experience the advanced industrial ecosystem of the Incheon Free Economic Zone.

Yoon Won-seok, Commissioner of the Incheon Free Economic Zone Authority, said, "I hope this forum will be a starting point for establishing new partnerships between Korea and China in the four advanced industry sectors. With the resumption of the second round of Korea-China FTA negotiations, new challenges and opportunities will open up. We will take advantage of this situation and the expansion of the Ganghwa southern free economic zone to focus on follow-up work to achieve concrete cooperation and results."