South Korean economic agency to deepen cooperation with WND

A delegation from South Korea's Saemangeum Development and Investment Agency visits Wuxi National Hi-tech District (WND) on July 25. [Photo/wnd.gov.cn]

A delegation from South Korea's Saemangeum Development and Investment Agency visited Wuxi National Hi-tech District (WND) on July 25.

Wang Jinjian, Party secretary of WND, welcomed the delegation led by the agency's director Bae Ho-yeol.

Wang visited the Saemangeum Development and Investment Agency in South Korea in 2016 to sign a cooperation agreement with the agency on behalf of Wuxi. Over 200 South Korean enterprises have invested in WND, including electronics giant SK Hynix and cosmetics producer Korea Kolmar.

Wang said WND will lend its full support to the agency in promoting itself in Wuxi and will deepen cooperation on internet of things, intelligent manufacturing and financial services.

Bae said that Saemangeum Development and Investment Agency is working on the Saemangeum Project, one of the biggest national projects in South Korea, which aims to develop Saemangeum into an economic hub of East Asia.

With a total investment of over 22 trillion KRW ($19 billion), the project will include the development of a 409-square-kilometer area, equivalent to two-thirds of South Korea's capital Seoul. It is the only Korea-China economic cooperation complex in South Korea since the signing of the Korea-China FTA.