Chungnam Opens Office in Shanghai for Investment Attraction and Market Development
Governor Kim Tae-heum of Chungnam (center) takes a commemorative photo with representatives of local companies that signed export contracts with local buyers at the opening ceremony of the Chungnam office in China, held at the Jinjiang Hotel in Shanghai on the 25th., ‘[Financial News] Chungnam Province has opened an advance base for exports in Shanghai, China, and is working to expand the global market and attract investment from overseas companies.’,
, ‘Chungnam Province announced that it held the opening ceremony of its Chinese office at the Jinjiang Hotel in Shanghai on the 25th.’,
, ‘The opening ceremony was attended by Governor Kim Tae-heum of Chungnam, Kim Young-jun, the Consul General of Korea in Shanghai, Ma Yinghui, the Director of Shanghai’s Bureau, Tak Jong-han, the President of the Korean Association in Shanghai, Kim Tae-kwang, the President of the Chungcheong Regional Association in Shanghai, local entrepreneurs, and about 200 attendees.’,
, ‘The office in Changning District’s Shanghai Mart serves as a base for promoting trade, attracting foreign investment, and activating local diplomacy for Chungnam Province.’,
, ‘The Chinese office is staffed by Director Jeon Taek-gyu and two local employees, a total of three people, and is available for domestic companies that have entered or wish to enter China, as well as Chinese companies wishing to collaborate with Chungnam.’,
, ‘The office supports companies based in Chungnam with export activities such as matching consultations between overseas buyers and companies, export issues assistance, market trend information, and genuine buyer discovery support. Additionally, the office works on attracting foreign investment, drawing overseas tourists, enhancing international cooperative exchanges, and revitalizing public diplomacy.’,
, ‘In his operational plan report, Director Jeon promised to open a new golden era of Korea-China business through the Chinese office. He aims to achieve annual exports worth $20 billion to China by implementing strategies such as localization, certification and regulation response, sustainable distribution network construction, market adaptability enhancement, and establishing a dedicated trade support channel.’,
, ‘The event included signing export contracts (MOUs), Governor Kim’s welcoming remarks, the screening of a video introducing Chungnam’s overseas offices, a presentation on the operating plans of the Chinese office, and celebratory performances. Export contracts were signed for $12 million by “Somenan Sambuja,” a seafood manufacturing and processing company based in Hongseong, Chungnam, and for $1 million by Cheonan-based “Euromedi Cosmetics” with local buyers.’,
, ‘At the opening ceremony, Governor Kim stated, “Shanghai is the core of China’s economy and a global hub ranked among the world’s top three cities, while Chungnam leads Korea’s economy in advanced industries such as semiconductors, displays, batteries, and automobiles.” He emphasized the potential for collaboration between Chungnam and Shanghai, both being centers leading industries and economies worldwide.’,
, ‘He additionally noted, “Recent reports suggest that over half of the world’s top 100 AI talents are of Chinese background,” and acknowledged China’s focus on technological advancement and investment, recognizing it as an opportunity to learn in various future industrial and economic fields.’,
, ‘Governor Kim also emphasized, “As China is a major trade partner for key exports from Chungnam such as semiconductors and displays, and serves as a crucial supply chain and stable market, Chungnam plans to strengthen industrial investment cooperation with China using the new office as a hub, while expanding exchanges in diverse areas like culture and tourism.”’,
, ‘Furthermore, he reflected on the 33 years since Korea and China formed diplomatic relations, stating, “Just as the two countries opened a new future together 33 years ago, Chungnam will actively forge a ‘second era of Korea-China cooperation’ starting with the opening of the Chinese office.”’,
, ‘In the first half of this year (January to June), Chungnam reported export sales of $42.68 billion, with Vietnam as the top export destination at $8.44 billion, and China the second with $7.648 billion.’,
, ‘Chungnam operates overseas offices in seven locations worldwide, including Los Angeles (USA), Tokyo (Japan), Frankfurt (Germany), New Delhi (India), Jakarta (Indonesia), and Hanoi (Vietnam), along with the one in China.’,
, ‘Since the start of the eighth provincial administration, the achievements in exploring overseas markets linked to overseas offices include 3,866 export consultations amounting to $625.072 million and 280 MOUs worth $590.318 million. The export earnings achieved directly by overseas offices in 2023 alone was $1.01 million, marking a sevenfold increase compared to the previous year’s $7.41 million.’,
, ‘Prior to attending the opening ceremony, Governor Kim visited the headquarters of SenseTime, a Chinese AI company, to review global AI technology trends. SenseTime, founded in Hong Kong in 2014, established its headquarters in Shanghai in 2019 and has branches in Beijing, Shenzhen, South Korea, Japan, and Singapore, employing around 4,000 staff.’,
, ‘SenseTime is predominant in facial recognition technology and conducts various businesses such as smart city management, unmanned vehicles, smart refrigerators, 24-hour mini markets, and in medical and educational fields, utilizing its proprietary technologies in facial recognition, video analysis, object detection, optical character recognition, medical image analysis, autonomous driving, and remote sensing. Notably, in 2019, it drew attention by applying facial recognition payment technology to a subway ticketing system and was selected as the official exclusive supplier for the 2022 Hangzhou Asian Games.’,
, ‘During his visit to SenseTime, Governor Kim viewed a demonstration of purchasing goods using facial recognition and reviewed SenseTime’s development technologies and devices while discussing business models and prospects. Following his SenseTime visit, Governor Kim participated in the Korea-China Capstone Design Competition hosted jointly by Soonchunhyang University and Fudan University at Hengja Theater’s Entrepreneur Meeting Room, where he encouraged the participating students. \n’]