Over 4,500 ROK companies invest in east China coastal city

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Last updated at: (Beijing Time) Sunday, November 30, 2003

Over 4,500 ROK companies invest in east China coastal city

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More than 4,500 companies from the Republic of Korea (ROK) had made investments in Qingdao, one of east China's coastal cities, by the end of September, said Jong-Sun Park, ROK consul-genera to Qingdao Saturday.

There are a total of 45,000 ROK people living in Qingdao, accounting for 80 percent of all foreigners in the city, the diplomat told the Sino-Foreign Enterprise Culture Qingdao Summit 2003.

Although ROK companies' total foreign investment shrank by 9 percent in the first three quarters of this year, the part going to China increased by 70 percent, of which Qingdao took one-third.

"Qingdao and the ROK have similar geographic and climatic conditions, similar cultural backgrounds, and even similar agricultural products and seafood," said Park. "All these things make the ROK people very happy to live here, and willing to invest in the city."

Located on the southern coast of the Shandong Peninsula, Qingdao faces the ROK across the sea, and both sea and air links are very convenient.

To meet the demand of talented people for China-ROK exchanges, 13 universities in Shandong, including two major universities in Qingdao, teach the Korean language, and many ROK students come to study in Qingdao for future work.

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