Chongqing, Seoul Strengthen Technology, Innovation Ties with Strategic Agreement

Chongqing - On July 29, Hu Henghua, Deputy Secretary of the Communist Party of China (CPC) Chongqing Municipal Committee and Mayor of the Chongqing Municipal People's Government, met with Oh Se-hoon, Mayor of Seoul, South Korea. They discussed deepening cooperation in electronic information, biomedicine, and artificial intelligence.

Hu highlighted Chongqing's commitment to high-quality development and its goal of becoming a key hub for Western Development and an inland opening-up center. Marking five years of cooperation with Seoul, Hu hopes to enhance government and business exchanges, especially in smart city projects and modern urban governance, to boost mutual prosperity.

Oh praised Chongqing’s progress in new energy vehicles, urban management, and cultural tourism. He aims to deepen cooperation, align industries, and boost education, technology, and tourism exchanges.

During Oh’s visit, Liangjiang Life Science City and Korea Institute of Science and Technology (KIST) Seoul Bio Hub signed a strategic cooperation agreement to support biotech innovation, foster biotechnology exchanges, and cultivate talent. This initiative aims to enhance innovation, trade, finance, and talent development cooperation.

Liangjiang Life Science City and Korea Institute of Science and Technology (KIST) Seoul Bio Hub signed a strategic cooperation agreement. (Photo/Liangjiang New Area)

Recently, Chongqing and South Korea have advanced significantly in various sectors. Liangjiang New Area and the Gyeonggi Business & Science Accelerator (GBSA) signed a strategic agreement to establish the GBSA China Innovation Center, fostering deeper economic, trade, and technology cooperation.

The Liangjiang New Area is also facilitating the construction of the China-Korea Industrial Park, attracting major projects from Hyundai, Hankook Tire, and POSCO. The area currently hosts 90 Korean enterprises, with total investments of approximately $1.96 billion.

SK Hynix, a global semiconductor leader, has significantly boosted Chongqing's electronics industry by investing in semiconductor projects at Xiyong Microelectronics Industrial Park, including packaging, testing, and module production lines.

In 2018, SK Hynix expanded its investment, making Chongqing its most extensive packaging and testing base worldwide. This has attracted companies like China Resources Microelectronics and the United Microelectronics Center (CUMEC) to the park, forming a comprehensive chip industry chain.

Trade relations between Chongqing and South Korea are deepening. Busan Port is seeking cooperation with Guoyuan Port to enhance economic exchanges between Western China and South Korea under the RCEP framework.