China-South Korea Economic Friendship and Cooperation Center unveiled at the 8th WCIFIT

By Liu Xinyu

(ECNS) – The "China-South Korea Economic Friendship and Cooperation Center" was officially launched in Chongqing Liangjiang New Area on Thursday during the China–South Korea (Chongqing–Gyeonggi) economic and industrial cooperation promotion event at the 8th Western China International Fair for Investment and Trade (WCIFIT).

The G-Fair China, an exhibition of outstanding Korean products, also made its debut at the fair.

The conference focused on economic and industrial cooperation between Chongqing and Gyeonggi Province. The two sides signed a memorandum of understanding in September 2025 to establish a sister-city relationship.

The agreement includes support for Gyeonggi Province to establish the "China-South Korea Economic Friendship and Cooperation Center" in Chongqing to facilitate trade, investment, and economic activities.

The center will be overseen by the Gyeonggido Business & Science Accelerator (GBSA) and implemented through its GBSA Chongqing office. 

Kim Hyun-gon, president of GBSA, noted that since the GBSA Chongqing office was established in Chongqing Liangjiang New Area in 2017, cooperation between Chongqing and Gyeonggi Province has expanded from purely economic ties to encompass cultural exchanges, technological innovation and industrial collaboration.

"The establishment of the China-South Korea Economic Friendship and Cooperation Center provides a more efficient and stable platform for ongoing cooperation between the two sides," Kim said.

The G-Fair exhibition, jointly organized by the Gyeonggi provincial government and GBSA, is a dedicated exhibition for small and medium-sized enterprises. Since its launch in 1997, G-Fair has been held 27 times in countries including India, Malaysia and Vietnam.

The G-Fair China exhibition features 50 South Korean brands and manufacturers, covering sectors such as cosmetics, electronics, food, homeware and health products.

In the first quarter of 2026, Chongqing's total import and export volume with South Korea reached 14.803 billion yuan (about $2.05 billion), a year-on-year increase of 69.74%.

Chongqing Liangjiang New Area has become a key investment destination for South Korean companies. The area currently hosts 86 South Korean-invested enterprises and has attracted more than 230 Fortune 500 companies and over 1,300 foreign-funded enterprises, along with more than 40 international organizations.