The Lin-gang Special Area brought its development opportunities to local businesses and investors during Invest Shanghai's overseas promotion tour in Seoul, capital of South Korea, on Sept 21.

The overseas promotional tour of Invest Shanghai is held in Seoul, South Korea. [Photo/Shanghai Municipal Commission of Commerce]

Both major cities in East Asia, Shanghai and Seoul have highly complementary industries and close economic and trade ties. In recent years, cooperation between them has deepened across a range of areas, bringing new opportunities for businesses in both markets.

Wu Xiaohua, deputy secretary of the Party Working Committee of the Lin-gang Special Area, outlined the area's strategic positioning, key industrial layout, and institutional innovation policies as a special economic function zone in his keynote speech.

Jiang Haijun, president of the Seoul Branch of Bank of China, introduced Shanghai's progress in building an international financial center and policies for the offshore finance pilot, encouraging more South Korean businesses to participate in Shanghai's financial opening-up.

As a key outcome of the event, Lin-gang and ROKIT Healthcare signed a memorandum of technological and industrial cooperation to propel the high-quality development of the pharmaceutical sector.