Trade, Industry and Energy Minister Lee Chang-yang attended the sixth meeting of the Korea-Shandong Economic and Commercial Cooperation Exchange (hereinafter “Exchange”) on November 9, held via videoconferencing.
Launched in 2016, the Exchange is an annual event where Korea and the Shandong province discuss economic cooperation and seek ways to support the stabilization of Korean companies located in the province. Approximately 120 persons attended this year’s Exchange.
Prior to the Exchange, Minister Lee held talks with Li Ganjie, Communist Party Secretary of Shandong province and shared views on bilateral cooperation measures across industrial sectors, supply chain, logistics and ways to strengthen substantial collaboration. They noted how Korean companies’ entrance into the Shandong province since the beginning of the establishment of Korea-China diplomatic ties has contributed to the two countries’ economic development.
Moreover, Minister Lee emphasized that a predictable investment environment is most crucial for stable business management and asked for cooperation in minimizing difficulties arising from China’s sporadic quarantine measures and power restrictions.
The Exchange program held forums on “logistics transport for trade” and “green and low-carbon cooperation for carbon neutral”, as well as one-on-one online business meetings between 85 Korean companies and 47 Chinese companies for trade matching and joint projects.
In his opening remarks, Minister Lee stressed the important value of Shandong province, as it holds numerous Korean automobile and electronics parts makers that are critical to supply chain stabilization, and called for forward-looking cooperation and close communication of both sides.
Source: Ministry of Trade, Industry and Energy