East China Province Favored by ROK Investors

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Last updated at: (Beijing Time) Wednesday, July 09, 2003

East China Province Favored by ROK Investors

The coastal province of Shandong hasbeen one of the major areas of China favored by investors from theneighboring Republic of Korea (ROK), official figures show.

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The coastal province of Shandong hasbeen one of the major areas of China favored by investors from theneighboring Republic of Korea (ROK), official figures show.

According to the figures from the provincial foreign trade department, by the end of May of 2002, enterprises involving investment from the ROK totaled 8,300 with a combined investment of 7.26 billion US dollars, about one third of the total ROK investment in China.

The ROK overtook Japan as the biggest trade partner of Shandongin 2002, with trade totaling 7.41 billion US dollars that year, while ROK tourists accounted for 34 percent of the province's overall overseas arrivals.

The number of ROK citizens living in the coastal province has reached 58,000, while 2,000 ROK students are taking courses in Shandong's institutions of higher learning.

Experts attribute geographic proximity and a shared culture to the close economic and cultural exchanges.

Confucianism, which originated in Shandong, has been influential in the ROK for centuries.

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