The South Korean session of the "Connecting Shandong with Fortune Global 500" event will be held on Oct 22 in Jinan, capital of Shandong province, via both online and offline channels.

The event, jointly hosted by the CPC Shandong Provincial Committee, the Shandong Provincial People's Government, and the South Korean Ministry of Trade, Industry, and Energy, is designed to strengthen Shandong's ties with transnational corporations from South Korea and fuel Shandong's high-quality development.

The event will have main venues in both Jinan and Seoul and sub-venues in 16 Shandong cities. The venues will be connected through a video livestream.

Representatives from Fortune Global 500 enterprises, government agencies, chambers of commerce, industry associations, and research organizations from both sides will attend the event and discuss mutual cooperation in the post-pandemic era.

An employee of a South Korean steel company works at the company's subsidiary in Qingdao, East China's Shandong province. [Photo by Yu Fangping/For China Daily]

A trade and economic cooperation forum will also be held. It will be attended by more than 200 enterprises and e-commerce platforms seeking business partnerships in food, agricultural and water products, cosmetics and beauty products, medical care, and auto parts.

Shandong is located across the sea from South Korea, and the two sides have enjoyed close economic and trade tries and frequent cultural exchange since ancient times.

According to the Shandong Provincial Department of Commerce, South Korea is Shandong's third-largest trading partner.

In 2019, imports exports between Shandong and South Korea were valued at $28.32 billion. In the first eight months of this year, trade between the two was valued at $18.11 billion.

Many Fortune 500 enterprises from South Korea, including Hyundai, LG, CJ, and SK, have invested in Shandong. They are involved in many areas, including biotechnology, food and catering services, logistics, the chemical industry, automobiles, electronics, and more.