Ministry of Trade Industry and Resources

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the ninth Korea–China (Shandong) Economic and Trade Cooperation Exchange in Yantai, Shandong Province, China, on November 6, 2026. The event was co-hosted by MOTIR and the Shandong Provincial Government.

Shandong ranks third by gross regional domestic product (GRDP) and second by population among China’s 31 provincial-level regions. Trade between Korea and Shandong reached USD 38.9 billion in 2025. In particular, 8,763 Korean companies have established operations in Shandong to date. This is the highest total among Chinese regions and represents around 30 percent of all Korean companies that have entered China. These conditions make Shandong an ideal base for expanding the presence of Korean consumer goods in the Chinese market.

The exchange brought together around 300 participants, including government officials and business representatives from both sides. Discussions covered cooperation in consumer goods, biotechnology, green development industries, and other areas. In his opening remarks, Minister Kim said, “Korea and Shandong should build on the foundation of cooperation established over the years to further expand cooperation in consumer goods and emerging industries. We will actively support exchanges between businesses on both sides so that they lead to tangible results in trade and investment.”

During the exchange, institutions and associations from both sides signed three memoranda of understanding (MOUs) to cooperate on certification and global market expansion, among other areas. The Korea Trade-Investment Promotion Agency (KOTRA) also signed a cooperation MOU with anchor company Atomy to help small and medium-sized Korean cosmetics companies enter the Chinese market. A business matching event for Korean consumer goods was also held alongside the exchange to help Korean companies achieve concrete business results.

At the business matching event, 28 promising Korean consumer goods companies held more than 200 export consultations with distributors and regional buyers in China. The consultations led to three export agreements covering products such as Kwangcheonkim seaweed and microbiome-based health foods. They also led to an additional 18 cooperation MOUs between Korean and Chinese companies and institutions.