Chinese and Korean Business Elites Gather in Chengdu for New Era of Chinese and Korean Economic Cooperation

World Knowledge Forum 2015 - China-Korea Entrepreneur Summit

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May 22, 2015, 11:11 ET

CHENGDU, China, May 22, 2015 /PRNewswire/ -- Top Korean entrepreneurs gathered in Chengdu to open a Sino-Korean economic and trade summit.

On May 21, "World Knowledge Forum 2015 - China-Korea Entrepreneur Summit" which has drawn global media attention kicked off. Nearly 500 Chinese and Korean guests, including dignitaries, renowned business leaders and economic experts from both countries, gathered at the Chengdu Century City International Convention and Exhibition Center. The Sino-Korean economic gathering instantly caused a sensation in both countries.

2015 World Knowledge Forum - China-Korea Entrepreneur Summit

According a source from the forum, present were Korean officials such as Korea's Minister of Trade, Industry and Energy Yoon Sang-jick and Korean Ambassador to China Kim Jang-soo, as well as hundreds of celebrated Korean entrepreneurs such as Chang Dae-whan, chairman of Maekyung Media Group; Sohn Kyung-shik, chairman of CJ Group; Park Sang-jin, CEO of Samsung SDI and Lee Soo-man, chairman of SM Entertainment. Many Korean entrepreneurs said this is the first forum that has brought together many top Korean leaders.

Organized by China's National Business Daily and Korea's MK Business News, the forum brought together Chinese and Korean business tycoons to explore new economic opportunities between China and Korea. Some guests said the forum's success showed the strong media influence of the Chinese and Korean organizers along with the appeal of Chengdu.

With a long history, China and Korean are closely related. The Sino-Korean FTA (Free Trade Agreement) is a "new engine" for Sino-Korean economic and trade cooperation. As Sino-Korean relations have reached a new level and wanting to promote bilateral cultural and economic exchanges, China's National Business Daily and Korea's MK Business News joined together and seized the opportunity to create "World Knowledge Forum 2015 - China-Korea Entrepreneur Summit," a platform for Asia's economic development and economic and trade exchanges between Chinese and Korean enterprises.

China's strategy of "One Belt, One Road" has boosted western China's economic leap. Under the theme of "One Asia, One Dream," the forum brought together government officials, top entrepreneurs, experts and scholars from China and Korea to explore opportunities from western China under the strategy of "One Belt, One Road."

Many Chinese and Korean experts have linked the ideas of "One Belt and One Road" and "Eurasia Initiative" proposed by the two countries' top leaders to explore upgraded bilateral cooperation in economic trade, logistics, energy, service and medical treatment.

Some of the key issues were: infrastructure, investment and fast-rising western China market in the era of "new normal." Chinese and Korean top entrepreneurs delivered in-depth keynote speeches on issues such as how to employ investment opportunities from the western China market, the reason for the success in developing western consumer markets, development of highlighted industries in western markets, models of business cooperation between Chinese and Korean enterprises and how to employ the Sino-Korean FTA.

"Under the strategy of "One Belt and One Road," infrastructure investment will undoubtedly become a new development opportunity. The strategy is to promote the flow of economic elements, the countries along "One Belt and One Road" have robust demands for infrastructure construction, and western China has created major opportunities," said Wang Bin, vice president of POWERCHINA.

"Rich in resources, with prominent advantages and huge space for adjustment, western China, a treasure-trove of land for investment and development, can provide a broad space for long-term economic development," said Li Xu, chairman of the Chengdu Investment Promotion Council when referring to opportunities from western China.

Roh Ick-sang, general manager of the Korean survey company Hankook Research, said that "western China is a huge market for Korea's five categories of products: cosmetics, recreational and sports goods, SUVs, electronics & home appliances and kitchenware."

The forum was another successful event in Chengdu after the 2013 Fortune Global Forum and the World Chinese Entrepreneurs Convention. Seven renowned Korean enterprises including Samsung, Hyundai, LG, SK and POSCO were in attendance.

Photo - http://photos.prnewswire.com/prnh/20150522/218045

SOURCE National Business Daily