The Park was approved as one of the first international industrial cooperation parks by Zhejiang province in September 2015 with a planning area of 3,000 mu (2 sq km) and a total investment of 12 billion yuan ($1.74 billion). Led by the support of South Korea’s Hyosung Corporation, the park attracts and fosters industries like new chemical materials, chemical fibers, fluorinated chemicals, membrane materials and heavy equipment.

The park also aims to grow into a modern industrial cooperation park home to catering and entertainment facilities, cosmetic clinics, research centers, apartments for talents and training institutions with South Korean style.