□ The China Weihai City Government Delegation made a second visit on November 11 following the previous visit to Gwanggyo New City in October 22 and discussed about the signing of the MOU for the transfer of New City Development know-how of Gyeonggi Urban Innovation Corporation, technology and human exchanges–cooperation for the creation of the Korea-China Economic Special District in Weihai City. 

□ On this day, briefing was made on Gwanggyo New City and Poseung District, a Yellow Sea Free Economic zone, both of which are being executed by the Gyeonggi Urban Innovation Corporation and in particular, the delegation showed keen interest in Poseung District which could act as a bridge for Chinese companies wishing to penetrate the Korean market. 

□ The delegation first visited U-City Integrated operation Center equipped with Crime Prevention CCTV, Real Time Traffic System, Facilities Management System Control Center. The Water Management System Center in Gwanggyo New City’s Lake Park which is dedicated to real-time water management through electronic automated system was visited and the delegation was able to personally experience the promenade surrounding the Gwanggyo New City’s lake park, a huge attraction adored by the citizens. 

□ Weihai City, located on the far east of the Shandong is the closest point to South Korea and by utilizing this geographical advantage, the “Korea-China Economic Cooperation Demonstration Region” will be formed. Ground-breaking support policies related to tax, loan, land rental and others have been forecasted to be executed. Discussions have also done for the measures on the signing of the MOU for the mutual exchanges–cooperation in the field of city development of Gyeonggi Urban Innovation Corporation and for the joint project, the “Korea-China Economic Cooperation Demonstration Area.”

□ Park Seong Kwon, the director of City Development Head Office of Gyeonggi Urban Innovation Corporation revealed that in order to expand the range of foreign investment with the Korea–China FTA agreement and to develop the economy into a higher level, incentives are being offered to various companies so through this visit, it is expected to contribute greatly to the human, physical exchanges as well as to the attraction of investment of Chinese companies into the industrial complex within Gyeonggi-do.