South Korea’s Ministry of Trade, Industry and Energy stepped up efforts to attract new Chinese investors to the country by inviting more than 60 Chinese firms to Seoul on Thursday to discuss new business opportunities.

Aiming to attract more than $5 billion (5.47 trillion won) in Chinese investment this year, the ministry offered one-on-one consultations linking Chinese companies to Korean firms in diverse industries as part of “China Week,” held this week from Monday to Friday.

A total of 61 Chinese firms including Bunma Group and manufacturing firm Taifu Industry attended the event, a majority of which are likely to make investments in Korea that will total around $1.1 billion, according to the ministry.

Moreover, the ministry said that while Chinese firms in the past looked to invest mostly in real estate development in Korea, they are now eying more diverse sectors including cultural content production, information technology, renewable energy and mechanical parts.

“China Week” was held as part of Korea’s aim to actively encourage more Chinese investment into Korea, as the two countries established closer trade ties with the initialing of a bilateral free trade agreement in February.

(jys@heraldcorp.com)