The Korea Trade-Investment Promotion Agency hosted a business forum in Seoul on Monday for a Chinese delegation, including officials and businesspersons from Sichuan province.

The agency held the meeting because the province located in southwest China is the core of the Chinese government’s agenda to develop its western territory, KOTRA said. Recently Hyundai Motor, Lotte Department Store, Woori Bank and Hyundai Merchant Marine Co. decided to invest in Sichuan.

The largest ever business information session held in Korea, the Korea-Sichuan economic meeting presented a variety of business categories in which Korea and China can form close economic ties.

The Chinese delegation seeks to attract an increasing number of Korean firms to Sichuan and Chengdu in mainland China, where business opportunities abound, KOTRA said.

Also present at the session were Korean conglomerates including CJ Group, and LG International Corp., in addition to Korean companies specializing in electricity, electronics, auto parts and energy.

A business exhibition fair took place following the information session where 42 firms from Sichuan displayed their products.

By Chung Joo-won  (joowonc@heraldcorp.com)