Under the banner of "Friendship Week," which was first launched in 2003, the event had served as a key platform for local cooperation between the two countries, promoting economic and cultural exchanges.
This year's event marks both the first since the coronavirus pandemic and the first held in Shandong since 2012.
The event follows the momentum generated by last month's summit between South Korean President Lee Jae-myung and Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) meeting in the southeastern city of Gyeongju.
Around 160 participants including embassy officials and business representatives, are taking part, with 106 Chinese and 69 South Korean companies in attendance.
At the opening ceremony on Thursday, South Korean Ambassador to China Noh Jae-heon expressed hope that the event would usher in a new era of practical cooperation with Shandong.
He highlighted the province's population, industrial base, and geographical advantages, emphasizing the need to expand cooperation in supply chains and emerging industries like biotech.
Lin Wu, Shandong's Party Secretary, thanked Noh for his first visit to Shandong since taking up his post and highlighted the significant growth in trade since diplomatic ties were established, pledging a fair investment and business environment for South Korean companies in China.
Shandong Governor Zhou Naixiang also expressed a commitment to expanding cooperation in artificial intelligence (AI), biotech, and pharmaceuticals, requesting support for Shandong companies investing in South Korea.
Among the participants were representatives from the Korea Chamber of Commerce in China, as well as around 20 small and medium-sized enterprises from Gyeonggi Province. South Korean companies held one-on-one meetings to discuss projects for bilateral cooperation.
Until Saturday, Qingdao's largest mall, Vientiane City, also hosts a promotional event featuring South Korean pavilion in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA), Korea Agro-Fisheries & Food Trade Corporation, and the Korea Tourism Organization (KTO).
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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