Yantai, East China's Shandong province hosted an industrial cooperation conference on May 30 featuring a package of activities, aimed at strengthening business exchanges and facilitating the signing of more agreements.

A total of 168 renowned South Korean companies and hundreds of Yantai companies attended and signed cooperation agreements in the fields of modern services, intelligent manufacturing and healthcare.

Moreover, Yantai signed an economic cooperation agreement with Chungju, South Korea to boost economic development. The Yantai Investment Promotion Center and Korea Cosmetic Plastic Surgery Industry Association inked deals in related fields.

Yantai Advertising Creative Industry Park and the Korean Cartoon Culture Industry Association also joined hands to promote mutual development.

Yantai Mayor Chen Fei said the Yantai government hopes to further deepen industrial cooperation with South Korea.

With the support of China-South Korea (Yantai) Industrial Park, Yantai will make efforts to bolster emerging industries and encourage businesses on both sides to draw on each other's strengths.

Yantai has also rolled out a series of preferential policies for South Korea to attract more investment and talent such as housing allowances and project subsidies of up to 10 million yuan ($1.49 million) for high-tech industries.

Yantai, one of the closest Chinese cities to South Korea, has close trade ties with the country. It has attracted the investment of many renowned South Korean companies, including LG Group, Samsung and Hyundai Motor. As of April, South Korean companies had launched a total of 3,859 projects in Yantai, utilizing foreign capital of $6.18 billion.

Yantai signs an economic cooperation agreement with Chungju, South Korea at the conference on May 30. [Photo/dzwww.com]

Park Jin-woong, the consul general of South Korea in Qingdao, delivers a speech at the conference on May 30. [Photo provided to chinadaily.com.cn]