Gyeonggi Province to fully support businesses exporting to China

Createdd 2015-12-28 Hit 1206

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With the Korean National Assembly voting in favor of the Korea-China FTA, Gyeonggi Province is set to establish a business center in Guangzhou as a follow-up measure. Gyeonggi plans to ramp up its efforts in inviting Chinese buyers to G-FAIR Korea

◇ With the Korean National Assembly voting in favor of the Korea-China FTA proposal on November 30, Gyeonggi Province announced its plans for follow-up measures including the establishment of a business center in Guangzhou and more emphasis on the invitation of Chinese buyers to G-FAIR Korea. The provincial government seeks to fully support corporations throughout the province in their efforts to export to China.  ⓒ Gyeonggi G-News

With the Korean National Assembly voting in favor of the Korea-China FTA proposal on November 30, Gyeonggi Province announced its plans for follow-up measures aimed at providing the provincial government’s full support to corporations across the province exporting to China.

First, the Gyeonggi Provincial Government will open a Gyeonggi Business Center (GBC) in Guangzhou, China, in January of 2016 and ramp up its local marketing efforts. Gyeonggi Province currently has business centers in Shanghai and Shenyang. With the opening of a business center in Guangzhou, Gyeonggi Province can explore the possibility of hosting G-FAIR, an exhibition of promising export-oriented small and medium businesses in Gyeonggi Province, in Guangzhou.  

In addition, the provincial government is planning to increase the number of small and medium corporations from Gyeonggi Province participating in the China Import and Export Fair, which is internationally regarded as one of the largest product fairs in China. Furthermore, Gyeonggi Province expects to reinforce the invitation of Chinese buyers to G-FAIR Korea, an event for outstanding Korean products. This year, 180 Chinese buyers attended G-FAIR Korea.

Additionally, Gyeonggi Province is planning the ‘Gyeonggi Youth+4 Trade Manager’ project to develop Chinese students in Korea as well as young adults from multicultural families as experts in the export business. This project offers trade and marketing education to Gyeonggi Province youths who possess excellent Chinese skills and links the program to export-oriented small and medium businesses so as to support their export activities.

Close-contact support projects through the FTA Application Support Center (‘Gyeonggi FTA Center’ hereinafter) supported by Gyeonggi Province and the Ministry of Trade, Industry and Energy, and managed by the Gyeonggi Federation of Economic Organizations, will continue as well.

Gyeonggi Province plans to offer supportive services tailored to the Korea-China FTA for businesses beginning their export activities to China using the Gyeonggi FTA Center. These services include: on-site 1-on-1 consulting services; regional presentations on the application of the Korea-China FTA; practical training in the application of the Korea-China FTA; and overseas marketing support for the FTA. 

Meanwhile, Gyeonggi Province plans to devise measures to improve competitiveness in the agricultural sector and textile industry, which are expected to suffer from the Korea-China FTA. 

For the agricultural sector, measures such as increasing customized debit transactions, providing funds to stabilize management, and strengthening devices to preserve agricultural household income including the expansion of the crop insurance system will be implemented. For the textile industry, measures such as increasing its participation in well-known local textile fairs in China, identifying high-quality buyers through online businesses, and providing R&D support for textiles including practical application technology development and new material development will be implemented.  

Gyeonggi Province’s Assistant Governor for Economy, Choi Hyeon-deok, said, “We will maximize the application of the FTA through better monitoring of the Chinese market and emergency reviews across each industry. Also, the province will pursue active measures to secure competitiveness in industries that are expected to suffer as a result of the FTA.” Assistant Governor Choi added, “Gyeonggi Province’s comprehensive FTA response plan for 2016 will be released this coming January, and quarterly inspections will be made to ensure support is rendered without delay.”

Please call Gyeonggi FTA Center’s hotline (1688-4684) or visit the official website (gfeo.or.kr/center/center.php) for more information on business-supporting projects operated by the Gyeonggi FTA Center and other details about the FTA.

ⓒ Gyeonggi G-News | Lee Jun-kyun eyekle@hanmail.net

http://gnews.gg.go.kr/news/news_detail.asp?number=201512031252417055C052&s_code=C052