CHANGWON — During a four-day visit to China, South Gyeongsang Province secured a 100 billion won ($71 million) investment agreement, $7.86 million in export letters of intent and a travel platform partnership aimed at attracting Chinese tourists. A provincial delegation led by Governor Park Wan-su met Chinese counterparts across investment, tourism, exports and manufacturing artificial intelligence to broaden channels for cooperation.
The largest outcome came in investment. The province signed an investment agreement with DMG Group in Shanghai on the 18th. DMG Group plans to invest about 100 billion won in South Gyeongsang to build plants producing auto parts and power supply equipment, and to hire 150 workers. The company intends to move its auto parts production base, operated until now in Zhangjiagang, Jiangsu Province, to South Gyeongsang and expand into power equipment such as radiators for transformers. The goal is to break ground on the plant in 2028 on a site of about 50,000 square meters in the province.
The province said it would support the entire investment process, including securing the site, obtaining permits and linking the company to government programs for businesses returning to Korea.
In tourism, the delegation laid the groundwork for cooperation with a local travel platform. Park visited the headquarters of Tongcheng Travel in Suzhou on the 17th and signed a memorandum of understanding to promote tourism in South Gyeongsang. The two sides agreed to cooperate on publicizing the province's tourism content and products, jointly developing travel itineraries, and online and offline marketing. They will also run a promotion called "48-Hour Escape Plan to Gyeongnam," aimed at young independent travelers from China. The targets are more than 15 million online impressions and more than 7,000 Chinese visitors.
Exports also produced results. A South Gyeongsang consumer goods export fair held in Shanghai on the 18th drew 10 small and midsize companies from the province and 20 Chinese buyers, with talks centered on cosmetics and health foods. Six provincial companies signed export letters of intent worth a combined $7.86 million with six Chinese buyers. The province said it would provide follow-up support, including help with local permits and regulations and introductions to buyers.
On the 17th, the delegation visited AGIBOT, a Chinese humanoid robot company also known as Zhiyuan Robotics, to review cases in which physical AI combining artificial intelligence and robotics has been applied to manufacturing processes, as well as the company's robot production and operating systems. Based on the visit, the province plans to flesh out a plan to create a hub for testing and spreading manufacturing AI, drawing on data from its core industries such as aerospace, defense and nuclear power, and from factory floors.
The delegation also visited provincial companies operating in China. On the 18th, after touring Hyundai Wia's Jiangsu unit in Zhangjiagang, the delegation held a meeting with officials from companies operating locally, including Hanwha Ocean, Hanwha Engine, Hyundai Wia, Taerim Industrial, Daemyung Precision, CTR, SNT Dynamics and GMB Korea. Participants shared views on changes in China's industrial and market environment and the difficulties facing companies, and discussed ways to help firms that want to return to Korea settle in South Gyeongsang.
"This trip to China went beyond simple exchange and became an opportunity to widen new growth opportunities for Gyeongnam in investment, tourism, manufacturing innovation and exports," Park said. "We will carry out follow-up measures without a hitch so that the 100 billion won investment leads to an actual groundbreaking and job creation, and so that cooperation in tourism and exports translates into results that residents and businesses can feel."
"The province, businesses and related institutions will join forces to turn opportunities for cooperation with China into investment, jobs, exports and tourist arrivals," Park added.
