Early December., “2022 Nanjing Investment Environment Briefing in Bio-medicine industry – Korea Session” was held in Seoul, Korea. Nanjing Investment Promotion Bureau signed cooperative agreements with China-Korea Investment and Trade Promotion Platform, which will accelerate more measures for promoting the investment and business opportunities in Nanjing, China.
Reputed as “a perpetual promising industry” and “a pearl on the crown” in high-tech industries, bio-medicine has become a new engine for global economic development, functioning as a new field of cooperation between Nanjing and Korea. Keeping a development rate of 10 percent for many years, bio-medicine industry has been an important growth pole of high quality economic growth in Nanjing. Currently, Nanjing is building up the “2+2+2+X” innovation-oriented industrial development system, in which bio-medicine is one of its pioneering industries and others include software and information service, integrated circuit, intelligent manufacturing equipment, new-energy automobiles, gene technology, which are not only the key industries that Nanjing pays much attention to, but also the key ones in which South Korea expands strategic cooperation with other countries.
In reference to the Korea-funded enterprises in Nanjing, LG Group is a significant participant. Nanjing plays an indispensable role in the Group’s global business plan, and has become one of the most important overseas bases of LG Group.
Up to now, there are nearly 300 Korea-funded enterprises in Nanjing, with a total of 4.14 billion US dollars of foreign capital, and nearly 40,000 employees, widely distributed in electronic communication, LCD panel, new energy power battery manufacturing and other industries.
Korean enterprises’ growing confidence for Nanjing’s economic development reflects the enormous appeal of Nanjing’s market. As China continues to advance high-level opening-up to the outside world, Nanjing has been upgrading its investment environment. So an increasing number of Korean companies will land in Nanjing to develop and expand business.
