Strengthening Exchange and Cooperation Between the Free Economic Zones of Both Countries
Expanding Networks Across Industry, Logistics, and Finance
On September 22, the Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) welcomed a delegation of public officials from Shanghai and representatives of companies based in the Shanghai Free Trade Zone.
This visit by the Shanghai delegation follows the Authority's visit to Shanghai in May, during which it engaged with the Free Trade Zone Administrative Committee, toured industrial and logistics hubs as well as advanced industrial complexes, and established a foundation for cooperation.
The Shanghai Free Trade Zone, designated in 2013 as China's first free trade zone, leads the country's open trade and investment system and serves as a core economic hub where advanced manufacturing, finance, and logistics are concentrated. Leveraging its logistics infrastructure connected to the Port of Shanghai-the world's largest port-the zone attracts significant investment from global companies and is recognized as a symbol of China's economic openness and innovation.
The delegation attended a briefing on investment attraction by the Authority and shared updates on the development of the Busan and Jinhae New Ports, as well as policy cases for fostering industries within the free economic zone. They also discussed cooperation strategies in areas of shared interest, including smart integrated logistics and eco-friendly advanced manufacturing. Representatives from the Industrial and Commercial Bank of China (ICBC) were also present, exchanging views on financial support and the activation of exchanges, thereby seeking to establish a comprehensive cooperation framework that extends beyond industry and logistics to include finance.
Commissioner Park Sungho stated, "The visit by the Shanghai Free Trade Zone delegation marks an important milestone in deepening mutual understanding and cooperation between the free economic zones of Korea and China. We will continue to expand our collaborative networks across various sectors-including industry, logistics, and finance-to develop the Busan-Jinhae Free Economic Zone into a global logistics and industrial cluster."
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