From November 30 to December 2, a delegation led by Yang Kyung-sok, Chief Representative of the ROK’s Incheon Chamber of Commerce & Industry (ICCI) in Weihai, visited Ningxia to learn about local investment environment.

The delegation visited Ningdong Energy and Chemical Industry Base, Yinchuan Economic and Technological Development Zone, Beryl Goji Co., Ltd., and Yuanshi Vineyard. They met with senior managers from enterprises that have been cooperating with the ROK such as Ferrotec (Ningxia) Semiconductor Technology Co., Ltd., Ningxia Ningdong Ruihua New Materials Technology Co., Ltd., and Ningxia Guipu International Trade Co., Ltd. The Ningxia-Incheon Business Seminar was also held between the delegation and officials from Ningxia Commerce Department and Ningxia Foreign Affairs Office.

Yang Kyung-sok said this was his first time to Ningxia and he was quite impressed by the beautiful natural environment and rapid economic growth here. Seo Gyeong-ho (from the ROK), Vice President of Ferrotec (Ningxia) Semiconductor Technology Co., Ltd., E Yuqian, General Manager of Ningxia Ningdong Ruihua New Materials Technology Co., Ltd., and Liu Zhao, General Manager of Ningxia Guipu International Trade Development Co., Ltd., briefed the delegation about their cooperation with the ROK. During the Ningxia-Incheon Business Seminar, the two sides introduced their specialty industries and competitiveness and reached consensus on furthering cooperation in the following aspects: i) to encourage small and medium-sized enterprises specializing in coal and chemical industry and semiconductor materials from Incheon to invest in Ningxia; ii) to establish regular contact mechanisms between Ningxia’s commerce and foreign affairs authorities and the ICCI in Weihai; iii) to facilitate personnel exchanges between enterprises and relevant organizations from the two sides for pragmatic cooperation.

The visit, an endeavor made by Ningxia Foreign Affairs Office to expand channels of cooperation with the ROK and local governments of other countries, aims to shore up points of weakness in Ningxia’s course of opening up and boost domestic and international markets by focusing on the promotion of local specialty industries and the attraction of foreign investment.