Premier Li Keqiang emphasized coordination in entrepreneurship and innovation between China and the Republic of Korea (ROK) during a visit to the Gyeonggi Center for a Creative Economy and Innovation in Pangyo, Gyeonggi-do, on Nov 2.

China and the ROK can learn from each other as China boosts efforts to support entrepreneurship and innovation with strategies of “Mass Entrepreneurship and Innovation” and “Made in China 2025”. The objective of “Mass Entrepreneurship and Innovation” coincides with the ROK’s initiative of creative economy and innovation, the Premier said.

He was briefed about the construction and development of the center, which houses talented start-up teams, before visiting laboratories working on the Internet of things, mobile devices and 3D printing technologies.

The Premier said he and ROK President Park Geun-hye agreed to build an innovation cooperation platform for enterprises and individuals of both countries.

He also noted that there are no borders in entrepreneurship and innovation. China and the ROK should grasp the opportunity of the global technology revolution to upgrade domestic industries and coordinate innovation development strategies.

First, China and the ROK should strengthen communication and exchange ideas in areas such as polices and laws, encourage mutual participation, integrate advantage resources and strengthen industry cooperation.

Second, both countries should boost joint efforts in research and development and build platforms for makers of the two countries.

Third, in the context of international capacity cooperation, joint efforts should be made in exploring third-country markets, paving the road for pragmatic cooperation between the two countries.

The Gyeonggi Center for a Creative Economy and Innovation was built to establish new industries that integrate with information technology.

Since 2014, the ROK government has established such innovation institutions in 17 provincial regions across the nation to support small- and medium-sized enterprises.