The 2022 China Hubei-South Korea Future Cooperation and Exchange Conference was held in Wuhan on September 29.
The event is divided into 2022 Hubei-Korea Logistics Cooperation Forum, donations from Korean companies, and one-on-one online business meetings between Chinese and Korean companies.
Hubei and South Korea have always maintained close contact and extensive cooperation.
South Korea is Hubei's third largest bilateral trading partner and second largest source of imports.
Data show that in the first half of this year, the bilateral trade volume between Hubei and South Korea reached 17.4 billion yuan, a year-on-year increase of 24.2%.
In the past five years, the transaction volume between South Korea and Hubei province has more than tripled, said Hong Jang-pyo, general representative of the Korea Trade and Investment Promotion Corporation in China.
South Korea mainly exports IT parts, and Hubei mainly exports important raw materials such as nickel oxide, manganese hydroxide, and phosphoric acid, which means that the supply chains of the two sides are closely integrated.
In order to ensure the stability and security of the supply chain of both parties, close cooperation is required.
Zhang Xiaomei, director of the Foreign Affairs Office of the Hubei Provincial People's Government, said that a large number of Korean-funded enterprises have settled in Hubei, which not only develops itself but also provides impetus for the high-quality development of Hubei's economy.
At present, Hubei is accelerating the creation of a "new coastal area" of high-level opening up, and hopes to share with more Korean friends the new opportunities for Hubei to link international and domestic dual circulation, open river-ocean combined transportation, and build a modern industrial system.
(Zou Hao produced by Jiang Danwei and Qilin)
Responsible editor: [Ji Xiang]