korea trade-investment promotion agency (kotra) held an official opening ceremony for kotra shenzhen on december 8th, 2014. president young ho oh, shenzhen's deputy mayor chen biao and deputy director of invest shenzhen jia changsheng were among the chinese government representatives and south korean enterprise representatives present at the event. committed to build the brand as the "first stop for investment in shenzhen", invest shenzhen gave a warm welcome and provided active support for the launch of kotra shenzhen. in the future, the cooperation between two parties is expected to be further strengthened to provide better services to south korean enterprises for their investment in shenzhen.
as of august 2014, south korea had invested in 571 projects in shenzhen with total contractual foreign capital amount of nearly 1 billion usd. kotra is a non-profit trade promotion agency founded by the south korean government in1962 to establish south korea's overseas trade network and cover every part of the world with the aim of facilitating economic and trade exchanges between south korea and the rest of the world. the agency has now established 122 representative offices in 84 countries.
