At the meeting, Vice Governor Kim Ho Jin highly appreciated the progresses in the friendly relationship between Da Nang and Gyeongsan in recent years. Although Gyeongsan is a small province with a population of more than 300,000 people, it has 12 universities and is considered one of the science and technology hubs of South Korea. In the coming time, Gyeongsan wishes to further promote cooperation with Da Nang in such fields as education and trade. Gyeongsan is currently coordinating with a number of organizations and business associations in Da Nang to promote Gyeongsan's cosmetics products in the city, laying the groundwork for future cooperation between two localities to develop cosmetic industry.
Vice Chairman Ho Ky Minh welcomed the delegation's visit to Da Nang and said the city government would actively support Gyeongsan businesses in promoting their products. He hoped that Da Nang would receive many business delegations from Gyeongsan coming to invest and work in the city.
Also at the meeting, representatives of Da Nang and Gyeongsan city leaders signed a memorandum of understanding on cooperation in developing cosmetics industry between the two cities. Prior to that, the delegation of Gyeongsan also worked with Da Nang University and held the signing ceremony of cooperation agreement between Da Nang University and Haany Daegu University.
As of 31/12/2016, South Korea has 64 FDI projects in Da Nang, ranking fifth among 42 countries and territories having FDI projects in Da with total investment capital of about USD 233 million (7.8% of total FDI). Export turnover between South Korea and Da Nang reached USD 25 million in 2016, up 4.2% over 2015, with some key export products such as garments, aqua products, refineries and air filters. Import turnover between South Korea and Da Nang was estimated at USD 63 million with the main import items including raw materials, textile materials and accessories, medicine, machinery and equipment, etc.
HONG HANH - IPA DANANG
