The 2021 Quzhou International Trade and Investment Promotion Conference – special event for   South Korean companies – was held in East China's Shanghai city on May 27.

"China and South Korea are very close neighbors connected by mountains and rivers. South Korea is China's third largest trading partner and its largest importer and exporter," said Zheng Lin, president of the Quzhou Council for Promotion of Trade, who welcomed the arrival of the South Koreans and introduced Quzhou to participants.

"In addition, Quzhou – dubbed the 'Home of Southern Confucianism · A Model City of Virtue' – is a vigorous rising city with huge business potential," she said.

Zheng expressed the hope the event would be an opportunity to further strengthen their economic and trade exchanges and share development opportunities.

The China-South Korea (Quzhou) Industrial Cooperation Park, which opened in April 2016, was in the first batch of International Industrial Cooperation Parks established in Zhejiang province.

Leading enterprises, such as South Korean company LG Chem, have settled in the industrial park.

Last year, more than 200 businesses in Quzhou traded with South Korea, with total imports and exports worth 3.2 billion yuan ($502.27 million). Of that, 3 billion yuan was in exports, while imports accounted for about 200 million yuan.