A Zhangjiagang delegation visits Donghee Holdings in South Korea. [Photo/WeChat account: zhangjiagangfabu365]
From June 10 to 11, Han Wei, Party secretary of Zhangjiagang, led a delegation to South Korea to promote investment and cooperation. The team visited local enterprises to advance ongoing projects, expand investment opportunities, and drive industrial growth and foreign trade breakthroughs for Zhangjiagang.
During the visit, Zhangjiagang Economic and Technological Development Zone (ZETDZ) signed a dual-currency fund cooperation framework memorandum with Korea Investment Partners (KIP). This partnership aims to leverage KIP's expertise in high-tech industries to bolster the development of emerging sectors in Zhangjiagang.
KIP is a wholly owned subsidiary of Korea Investment Holdings, which is one of South Korea's top financial conglomerates. It manages over $230 billion in funds across information technology, biopharmaceuticals, consumer goods, and manufacturing.
The delegation also visited Seojin Automotive, the first South Korean company to establish a subsidiary in ZETDZ. Han, the Party secretary, expressed hope for enhanced collaboration between Seojin and Zhangjiagang in automotive parts and new energy vehicles.
Additionally, Donghee Holdings and the Zhangjiagang delegation reached an agreement on the expansion of new energy vehicle production in ZETDZ.
Donghee's automotive part factory in Zhangjiagang, founded in 2004, achieved sales of 1 billion yuan ($137.72 million) in 2023.