Weihai Benefited From China South Korea FTA Demonstration Area Effect

2, reporters learned from the Commerce Bureau of Weihai, Shandong province. In the first half of this year, 87 new foreign-funded projects were approved in Weihai, and 655 million yuan actually amounted to foreign investment. Among them, Korea accounted for nearly 180 million dollars, an increase of more than 20% over the same period last year.

South Korea is one of the main sources of foreign investment in Weihai. In the first half of this year, 53 new projects were approved by Weihai, accounting for more than half of the total number of new projects approved.

At present, the Korea CNT call center project with a total investment of US $60 million is under negotiation and will soon be located in Weihai.

Weihai City Commerce Bureau staff said that since the signing of the Sino Korean FTA, China and South Korea have enjoyed the dividend policy in attracting investment policies, promoting channels and financial support. Korean enterprises have more convenient investment in China, but also promoted China and South Korea.

Contacts.

The reporter learned from Weihai customs that in the first half of this year, the total value of Weihai's imports and exports to Korea reached 17 billion 120 million yuan, an increase of 12.8% over the same period last year, accounting for more than 30% of the total value of foreign trade and imports of Weihai in the same period.

Weihai animal husbandry Trading Co., Ltd. is one of the main importers of Korean food. The Sino Korean FTA agreement has brought substantial benefits to the company.

In the first half of this year, the company reduced taxes by several hundred thousand yuan, and the certificate of origin also realized electronic networking.

Weihai, Shandong, is China's nearest city to Korea, and more than 700 Korean investment companies have attracted Korean enterprises such as Hyundai Heavy Industries, Lotte Group, Samsung Electronics and SK group.

In recent years, industries such as light industry and other industries have expanded to the three industries, such as shipping, commerce, trade and catering.

At the same time, Weihai took the lead in launching the cross-border shipping between China and Korea.

Export business, and at the same time start shipping, mail, air pportation three ways to Korea direct purchase import business.

In June 2015, the Sino Korean FTA was formally signed.

The agreement has selected Weihai and Inchon free economic zone of China as the model zone of China Korea FTA regional economic cooperation. Weihai has become the only city in China that has written into the FTA between China and Korea.