The China-Korea Industrial Park is an initiative initiated by the leaders of China and South Korea and written into the China-Korea Free Trade Agreement. In November 2018, the Shandong Provincial Government officially approved the "China-Korea Yantai Industrial Park Construction Implementation Plan", clarifying the overall requirements, planning layout, main tasks, key industries, and policy measures. The total planned area of the China-Korea (Yantai) Industrial Park is 80.4 square kilometers, divided into three areas: Development Zone, High-tech Zone and Muping District. It is the only China-Korea Industrial Park in the country that overlaps a free trade zone.
1.Important industries
A new generation of information technology. Relying on backbone enterprises such as Foxconn, Inspur LG Display, LG Display, and Patron Electronics, improve the industrialization of smart wearables, mobile smart terminals, cloud computing devices, 3C and liquid crystal displays, and focus on the development of 5G, IPv6 and their derivative industries. It focuses on the fields of sensors, Internet of Things, smart terminals, application services, and promotes the development of core basic industries such as integrated circuits, new displays, high-end software, and high-end servers, and strives to build an international electronic information industry cluster.
Medicine and health. Relying on key enterprises such as Luye Pharmaceutical, Rongchang Biological, Dongcheng Pharmaceutical, and CSPC, strive to build an international medical and health innovation demonstration zone. Focus on the fields of medical equipment, drug development, rehabilitation, beauty and plastic surgery, health check-ups, elderly care, etc., and strengthen associations with Korean medical equipment, biotechnology, pharmaceuticals, health industry, social welfare and other fields, as well as medical institutions such as Yonsei University Hospital Cooperate with enterprises to accelerate the construction of seven major parks, including the International Biomedicine Innovation Industrial Park, Biomedicine and Health Industrial Park, Traditional Chinese Medicine and Precision Medicine Industrial Park, and Medical and Health Integrated Industrial Park.
R&D and manufacturing of new energy vehicles. Relying on key enterprises such as Hyundai New Energy Vehicle R&D Center and Hyde New Energy Vehicles, we will strive to build an international new energy smart vehicle R&D and manufacturing demonstration zone. Focus on improving the development and industrialization of core components such as drive motors, power batteries, lightweight materials, intelligent control systems, and charging piles for new energy vehicles, and gradually shift to the R&D and design of new energy vehicles. Speed up the development of automobile service industries such as inspection and modification, professional maintenance, and car leasing. Support traditional parts companies such as Shengli Automobile and Shougang Denso to open up the new energy auto parts market, and accelerate the formation of a complete industrial system, innovation system and industrial cluster from key parts to complete vehicles.
High-end services. Focus on the development of R&D and design, finance and insurance, modern logistics, e-commerce, cultural creativity, vocational education, tourism and leisure, bonded logistics, financial leasing, exhibition industry, digital economy and other industries, promote the integration of industry and city, and strive to create an international high-end service industry integration zone .
High-end equipment. Focus on new products, new services and new models, vigorously develop smart wearable devices, smart homes, smart transportation, virtual reality and other equipment and products, and strive to create an international smart manufacturing industry pioneer area. Relying on key enterprises such as Daewoo Shipbuilding and Doosan Construction Machinery, focus on the development of heavy equipment manufacturing, offshore equipment, ship parts manufacturing and other industries, support the development of artificial intelligence, 3D printing and robotics industries, and build an international high-end equipment R&D, design and manufacturing base.
New material. Give full play to the supporting and leading role of key enterprises such as Wanhua Chemical, Henkel Loctite and Zhenghai Magnetic Materials. Focus on the fields of polyurethane, special chemical fiber, new chemical materials, new electronic materials, new metal materials, etc., and strive to build an international new material industry research and development zone.
2. Investment demand
Focus on the introduction of new energy vehicles, high-end equipment manufacturing, new generation information technology, medicine and health, life sciences, intelligent manufacturing, energy conservation and environmental protection, new energy, fine chemicals, business logistics, cross-border e-commerce, digital economy, headquarters economy, financial insurance, Industrial projects such as cultural creativity, health preservation and elderly care.
3. Ways of Cooperation
Sole proprietorship, joint venture, cooperation, technology introduction.
4. Development basis
The China-Korea (Yantai) Industrial Park relies on the policy advantages of Yantai National Economic and Technological Development Zone, High-tech Industrial Development Zone, Shandong Yantai Free Trade Zone, Comprehensive Bonded Zone, and major transportation facilities such as Yantai Airport and Yantai Port West Port to attract superior resources from Korea And advanced technology, focusing on the construction of "four bases and two centers": First, relying on Hyundai Automobile R&D Center, GM Dongyue and other new energy vehicles and surrounding automobile and parts companies, to build a new energy vehicle production chain for the entire industry chain; It is based on leading companies such as LG and Foxconn to build a new generation of electronic information industry production base; the third is to use the advantages of Wanhua and other enterprises to build a new material R&D and production base; the fourth is to use Daewoo Shipbuilding, Doosan Machinery, and CIMC Raffles Offshore Research To build a high-end equipment industry base; fifth is to leverage the carrier advantages of biomedicine and health industry innovation centers to build a life sciences industry center; sixth, to build on the advantages of Yantai and South Korea’s geographical proximity and cultural connectivity, etc. Korea Hyundai Service Industry Convergence Center.
5. Market potential
At present, the industrial park has formed three leading industries of high-end equipment manufacturing, new generation information technology, and new materials, and is actively cultivating the three growth industries of biomedicine, energy conservation and environmental protection, and intelligent equipment. Strive to accumulate more than 100 new Korean-funded projects by 2025, with an investment of more than 2 billion U.S. dollars, and imports and exports to South Korea to exceed 10 billion U.S. dollars.
6. Advantages
Yantai is geographically similar to South Korea. There are more than 120 flights to and from Korea's Incheon, Busan, Jeju Island and other places every week. Yantai Port has 16 passenger and cargo liners to and from Incheon, Pyeongtaek, Gwangyang and other ports every week. The economic and trade exchanges between Yantai and South Korea are active. A total of 4,047 Korean-funded projects have been approved. The contractual use of Korean capital is US$13.89 billion, and the actual use of Korean capital is US$6.28 billion. It plans to promote the construction of eight carriers, including the New Energy Automobile Industrial Park, the New Material Industrial Park, the Blue Medicine Valley, and the China-Korea Science and Technology Innovation Incubation Cooperation Base. A total of 123 new Korean-funded projects have been introduced with a total investment of US$1.01 billion. Promulgated the "Policies and Measures to Support the High-Quality Development of China-Korea Yantai Industrial Park", the country's first "transnational office" approval model, shortened the work visa processing time limit for Korean personnel to the shortest time in the country, and introduced the province's first wholly-owned Korean vocational education The organization, the first Korean-funded law firm, and the first Korean-funded travel agency have become the park with the most innovative cases and the widest cooperation in emerging industries among the three industrial parks in the country.
