10 Reasons Why Korean Businesses Favor Yantai China-Korea Industrial Complex

1. 1 Geographical Advantage
   Yantai City is located at the confluence of the Pacific Rim and Northeast Asian economic zones, and a central city in the south of the Pan-Bohai Economic Zone, one of the three major economic zones in China, and one of the cities with the most development and growth potential in China.
2. 2 Strategic Advantage
   As Yantai City is promoting the China-Korea sea-rail intermodal transportation channel for truck freight and the China-Korea train ferry project as a gateway linking the two countries, Yantai China-Korea Industrial Complex is emerging as a hub matching “One Belt One Road” initiative of China and the “Eurasian initiative” of Korea.
3. 3 Transportation Infrastructure Advantage
   From Yantai City, there are 13 ships every week to major Korean port cities such as Incheon, Pyeongtaek, Gunsan, and Busan, and 124 flights to and from Incheon and Busan every week.
4. 4 Beautiful Natural Environment
   Yantai City faces the sea with the mountains on its back, and has four distinct seasons. The annual average temperature is 12℃, the forest cover is 43% or higher, the air quality rate is 90% or higher, and the water quality rate reaches 100%. It has been designated as "the optimal leisure city in China" for the three consecutive year.
5. 5 Fully Established Infrastructure
   Yantai City has sufficient water, electricity and gas supply, and is fully equipped with residential infrastrucuture such as healthcare, education, food, leisure, entertainment, tourism, shopping, and accomodation.
6. 6 Rich Human Resource
   There are 73 higher-educational institutions (including universities, vocational colleges, and vocational schools), 300,000 enrolled students, and 189 technology R&D centers with provincial() or higher ranking and business technology centers in Yantai City.
7. 7 Quality Investment Service
   It plans to offer "First Project Applicant Managment System", and "One-Stop" licensing and customized services for investment projects.
8. 8 Robust Cooperation Base
   Based on a solid industrial base, Yantai ranked 20th in the country with $98.6 billion in GDP in 2015, and the sales of large and medium-sized enterprises in the city reached $237 billion, ranked 9th among local cities in China.
9. 9 Close Exchange and Cooperation with Korea
   Korea is the largest source of foreign investment to Yantai City. By 2015, a total of 3,625 Korean projects were invested into the city, and the total investment amount reached $5.51 billion, accounting for 1/12 of the total Korean investment to China. Korean conglomerates such as Hyundai Motor Company, LG Electronics, POSCO, and Daewoo Shipbuilding & Marine Engineering entered the city.
   Korea is Yantai's largest trading partner. In 2015, Yantai's trade with Korea amounted to $11.8 billion, accounting for 1/25 of China's trade volume with Korea. Key industries, such as equipment manufacturing, electronic information, food processing, and modern chemical industries, have been formed in the city, which are closely related to the Korean industry.
10. 10 Preferential Investment Benefits Policy
    In the future, Yantai China-Korea Industrial Complex will do its best to realize not only the convenience of investment, but also trade liberalization, finance internationalization, and management legalization. The governments of both China and Korea have already established a vice-minister-level coordination mechanism for the Korea-China industrial complexe, and will actively coordinate and support the development of tenant companies. The Shandong Government has announced [Opinion on Support for Construction of China-Korea (Yantai) Industrial Complex]. The Establishment of the China-Korea Industrial Development Fund and the China-Korea (Yantai) Industrial Complex Development Fund supports the construction of infrastructure facilities in the complex and the development of tenant companies. Yantai City has been granted the authority from the central government to test various projects such as maritime economy, smart city, cross-border e-commerce (CBE), and privatized care services. The China-Korea (Yantai) Industrial Complex is planning to create a quality investment environment by benchmarking related benefits policies such as the China (Shanghai) Free Trade Test Zone. In addition to building public service platforms such as R&D, finance, and consulting in the complex, it will provide integrated services such as medical treatment, education, shopping, leisure, and entertainment. The central and local governments will continue to provide a series of support policies for trade, investment, finance, shipping and air transport, depending on the actual demand of the tenant companies.