The 1st Meeting of China-South Korea Industrial Park Cooperative Mechanism was held in Seoul South Korea on November 30. The Chinese Vice Minister of Commerce Gao Yan jointly presided over the conference with the Vice Minister of Trade, Industry and Energy of South Korea Lee Kwan-sup. Representatives of relevant governments and departments such as the Department of Commerce of Shandong province, the Department of Commerce of Jiangsu, the people’s government of Yantai, the people’s government of Yancheng and Saemangeum Development Agency of South Korea and the Ministry of Land and Transportation attended the meeting.

Both sides agreed that carrying out the China-South Korea industrial park cooperation is an important consensus reached by the leaders of the two countries and a new highlight and platform to strengthen the bilateral trade and economic practical cooperation under the new circumstances. This will vigorously promote the practical cooperation between the two countries, especially the constant deepening development of the local economic cooperation. Both sides agreed to work together to innovate the cooperation model, to arrange the newly-developing industries, to promote the entry of innovative and entrepreneurial enterprises and to establish a new platform for the enterprises of the two countries to innovate and start a business. Both sides are willing to join hands to build the China-South Korea industrial park into a typical model of the two countries’ trade and economic cooperation in the age of China-South Korea FTA. Both sides will positively support and promote the domestic enterprises to invest and develop in each other’s industrial park, to provide convenience and innovative measures for the entry of each other’s enterprises and to strengthen the promotion and publicity of the China-Korea industrial park.

Both sides agreed that the second meeting of the China-South Korea industrial park cooperative mechanism will be held in China in 2016.