On the afternoon of April 23, 2014, director-general of Investment Promotion Agency of Ministry of Commerce (CIPA) Liu Dianxun signed a memorandum of understanding on investment promotion cooperation with the chairman of South Korean Automobile Industry Cooperative Federation Dal-Suk SHIN. Both sides reached extensive consensus on sharing information, promoting bilateral investment cooperation and pushing forward the employment of China’s labor service personnel in South Korea.
At the signing ceremony, Liu introduced CIPA’s work plan on promoting investment cooperation in such key industries as automobile and the situation of China-South Korea labor service cooperation. He spoke highly of the establishment of bilateral strategic partnership. The chairman of South Korean Automobile Industry Cooperative Federation briefed on the federation’s founding background and main functions, and expressed the intention of carrying out investment promotion cooperation with CIPA to render service and support to business investment overseas and take an active role in advancing the employment of China’s laborers in South Korea’s automobile industry.
Executive director of South Korean Automobile Industry Cooperative Federation Moon-Soo KO, business representatives of South Korea’s auto parts companies in China, director of the Department of Communication of CIPA Hu Ruihong and director of the Department of Industry (II) Lin Ruochen also attended the signing ceremony.