China's Jiangsu network on February 7, Yancheng news Automobile is a pillar industry of the national economy, but also a leading industry cultivated by Yancheng. On the morning of February 7, the first day of work in the Spring Festival, the Yancheng People's Government and South Korea's Kia Co., Ltd. signed an expanded investment cooperation agreement to establish a new joint venture company in the Yancheng Economic and Technological Development Zone to open a new era of joint ventures, jointly promote the Yancheng automobile industry to create glory, and jointly create a demonstration model for Sino-Korean cooperation.
Yancheng is Kia's only production base in China. As early as 20 years ago, Yancheng and Kia worked together to create the first automobile foreign-related restructuring project after China's accession to the WTO, opening a new chapter in the rise of Yancheng's industry and opening up to the outside world.
Yancheng Economic Development Zone, as the main front and main battlefield of the city's industrial economic development, is also the main settlement place of Kia in Yancheng. Following Kia, Yancheng Economic Development Zone has gathered more than 400 industrial chain enterprises such as South Korea's SK, South Korea's Mobis, France's Faurecia, and the United States' Dana, with a total vehicle production capacity of more than 1 million units, a cumulative production and sales of nearly 6 million vehicles, and built and opened Jiangsu New Energy Automobile Research Institute, China Automobile Center Test Field, Huaren Express' global first "wisdom road" and other industrial carriers, forming a relatively complete industrial ecology from vehicle manufacturing to parts and components.
In recent years, Yancheng Economic Development Zone has been committed to building an advanced manufacturing cluster led by automobiles, actively promoting the transformation and upgrading of traditional automobiles, vigorously developing new energy vehicles, breaking through intelligent networking, opening up automotive services and aftermarkets, and continuously enhancing the core competitiveness and brand influence of the automotive industry.
It is understood that with this signing, Kia and Yueda Group intend to set up a new joint venture company in the Yancheng Economic Development Zone, planning to increase capital by 900 million US dollars to increase vehicle sales and capacity utilization rates by expanding investment, introducing new models, developing new energy vehicles, and increasing exports. Yancheng will fully support Kia's expansion of sales in the Chinese market and support the export trade of Kia's Yancheng plant to help Kia's development in China.
The signing of the expanded investment agreement is the result of Yancheng's deepening cooperation with South Korea, and also a vivid portrayal of the accelerated construction and development of the China-South Korea (Yancheng) Industrial Park. This year marks the 30th anniversary of the establishment of diplomatic relations between China and South Korea, the year of cultural exchanges between China and South Korea, and the fifth year of the establishment of the China-South Korea (Yancheng) Industrial Park. Yancheng Economic Development Zone, as the core area of the integration of china and South Korea (Yancheng) Industrial Park, has adhered to the construction of China-South Korea (Yancheng) Industrial Park as the main focus in recent years, deepened and expanded opening up and cooperation, actively integrated into the global pattern, and made every effort to build a benchmark for open cooperation with a more open pattern vision, and successfully approved the national foreign trade transformation and upgrading base, the first batch of China-Japan-South Korea (Jiangsu) industrial cooperation demonstration parks in the province, and the Joint Creation Zone of China (Jiangsu) Pilot Free Trade Zone. Relying on THE DPRK, SK New Energy, Mobis, Douyuan Air Conditioning and other Korean-funded enterprises, in 2021, the import and export of the whole region to South Korea increased by 21.7% and 18.3% respectively year-on-year, and the actual utilization of foreign capital tasks for the whole year was completed one quarter ahead of schedule, accounting for 1/3 of the city, of which the actual utilization of Korean capital increased by 53% year-on-year, fully demonstrating the responsibility of the "main window" of the city's opening up and cooperation. (Kong Dayong, Gao Yeqiao, Cai Yucheng)
【Source: China Jiangsu Net】