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New China-ROK industrial park attracts investment worth nearly $30b

Updated: April 7, 2022 20:25    Xinhua

GUANGZHOU — The China-ROK (Huizhou) Industrial Park in Huizhou city, South China's Guangdong province, has seen project deals with a total investment of over 190.2 billion yuan (about $30 billion), local authorities said on April 7.

The Huizhou industrial park, one of three major industrial parks in the country that target enterprises from the Republic of Korea (ROK) and facilitate economic and trade exchanges with ROK, is expected to cover a total area of more than 94 square km upon completion.

The State Council approved the establishment of the park in 2017 and the park's five major sections began construction in succession around 2018.

To date, the park has launched 165 projects, with an estimated output value of around 309 billion yuan, according to the Huizhou municipal government.

The industrial park will focus on attracting investment and enterprises from industries such as intelligent mobile terminals, ultra-high-definition video display, smart energy, artificial intelligence (AI), and laser additive manufacturing.

Huizhou is Guangdong's major trading city with ROK. In 2021 alone, goods worth over 19.28 billion yuan were imported and exported between Huizhou and ROK, up 38.3 percent year-on-year.

As of March, 305 ROK-funded enterprises had been set up in Huizhou, among which 36 had invested more than $10 million respectively mainly in the city's electronic and information and chemical industries.