Qingdao'S Investment In Korean Clothing Industry Is Optimistic About Korean Market

Since the formal signing of the free trade agreement (FTA) between China and South Korea, the trade between China and South Korea has become more and more closely related. Recently, the Ministry of industry and Commerce of Korea and the trade and Investment Promotion Association of Korea launched the Eleventh "2015 For-eign Week Investment" campaign. The reporter was informed that the Korean government is stepping up efforts to attract foreign investment. What is the Korean investment environment?

With the formal signing of the China South Korea free trade agreement, China's investment in South Korea has seen a relatively large growth.

By the end of 2014, China's direct investment in Korea and Africa has reached US $2 billion 450 million, China has become the third largest source of foreign investment in Korea, following the US and Japan.

In the past year alone, the amount of investment declared has reached $1 billion 200 million, which has seen rapid growth.

In addition, it is noteworthy that China's investment in Korea has also undergone structural changes. In the past, the real estate industry was the main industry. Today, new industries such as film and television, hand travel, agriculture, renewable resources, finance and other emerging industries have become new attraction points.

What is the economic and trade dealings between Qingdao and Korea? Reporters learned from the municipal commercial bureau that Korea is the second largest source of foreign investment in Qingdao.

In the 1~7 month of this year, South Korea invested 221 projects in Qingdao, an increase of 59% compared with the same period last year, and contracted foreign capital of 1 billion 150 million US dollars, an increase of 54.8% over the same period.

850 million US dollars, an increase of 108.6% over the same period last year.

As of the end of July 2015, South Korea accumulated 11862 investment projects in Qingdao, 25 billion 940 million US dollars in contractual foreign investment, and 16 billion 100 million US dollars in real foreign investment, accounting for the total accumulated amount in the past year.

The specific gravity is 46.8%, 28.3% and 27.2%.

It is Qingdao's second largest trading partner.

In 2014, the total volume of import and export trade between Qingdao and Korea was 9 billion 10 million US dollars, an increase of 6% over the previous year, accounting for 11.3% of the total import and export volume of the whole city, of which 4 billion 770 million US dollars were exported, representing an increase of 17.7% over the previous year, accounting for 10.4% of the total exports of the city, and 4 billion 240 million US dollars, accounting for 12.6% of the city's imports.

Qingdao's investment in Korea was up to July 2015. Qingdao approved 129 investment projects in Korea, and China's investment amounted to US $244 million, mainly related to knitted apparel, handicrafts, machinery processing, electronic equipment, food processing and other industries.

What is the economic and trade situation between Qingdao and Korea?

In 2015 1~7, the total volume of import and export trade between Qingdao and Korea amounted to US $4 billion 580 million, accounting for 11.4% of the total import and export volume of the whole city, of which 2 billion 350 million US dollars were exported, accounting for 9.5% of the total exports of the city, and 2 billion 230 million US dollars were imported, accounting for 14.8% of the total imports of the whole city.

The main commodities exported to Korea by Qingdao are electrical and electronic products, machinery and equipment, clothing, metal products, steel and so on.

The main commodities imported from Qingdao are electrical and electronic products, textiles, machinery and equipment, integrated circuits, plastic raw materials and so on.