Qingdao to build Sino-ROK maritime trade link   

青岛将建中韩两国贸易海上通道

中韩双方25日完成两国自贸协定全部文本草签，并确认协定内容。这标志着中韩自贸区谈判全部完成。韩国是青岛第二大贸易伙伴。2014年，青岛与韩国进出口贸易总额为90.1亿美元，同比增长6%。韩国也是青岛第二大外资来源地，韩国2014年在青岛投资项目248个，合同外资11.4亿美元，同比增长5.5%。 [查看全文]

(ECNS) -- The coastal city of Qingdao in Shandong province is planning to build a maritime trade channel between China and the Republic of Korea (ROK).

The two countries signed off on a free trade agreement on February 25, marking the conclusion of related talks.

The ROK is Qingdao's second largest trade partner, with a total import and export trade volume reaching $9.01 billion in 2014, an increase of 6 percent over the previous year. The country is also Qingdao's second largest source of foreign investment, with 248 projects, a year-on-year growth of 5 percent.

The city will attempt to become a model city under the China-Japan-ROK free trade agreement by taking advantage of its port, according to Qingdao Commerce Bureau.

Qingdao is currently building a China-ROK Innovative Industrial Park to promote cooperation between the two countries, and has incorporated free trade zones in its own region as well as Busan-Jinhae in the ROK.

Other efforts, including the construction of a new China-ROK free trade zone in the west of Qingdao, the China-ROK e-Commerce trade demonstration zone, a Qingdao-ROK maritime trade channel, a South Korean Won settlement center, and a cross-border investment park, are also under way, according to authorities.