Representatives from China, Japan and South Korea attend the 2021 China, Japan and South Korea Economic and Trade Cooperation Forum in Taicang on June 29. [Photo/taicangdaily.com]

The 2021 China, Japan and South Korea Economic and Trade Cooperation Forum was held in Taicang, East China's Jiangsu province, on June 29.

The forum brought together dignitaries and businesspersons from the three countries to discuss potential partnerships.

There are currently 20 liner routes linking the Taicang Port to Japanese cities including Tokyo, Yokohama, Nagoya and Shimonoseki, and South Korean cities such as Busan and Inchon. Ships on some liner routes require only 30 hours to get to their destinations.

"I'm from South Korea and I have spent nearly 15 years living in Taicang. I can deeply feel the unique charm of the city," said Kim Sung-tae, general manager of Hwaseung Automotive Parts (Taicang) Co Ltd, on behalf of South Korean companies setting up operations in Taicang.

Kim said that his company's robust development is partly due to the strong support offered by Taicang. He noted that Hwaseung has expanded its operations to Beijing, Wuhan and Chongqing since setting up a branch in Taicang in 2002.

An executive at Jiangsu Yangzi-Mitsui Shipbuilding Company also praised Taicang's business climate, saying that his company was one of the first to resume operations during the COVID-19 pandemic because of Taicang's timely support.

Statistics show that Taicang is now home to nearly 200 Japanese firms with combined investments amounting to $2 billion, and nearly 80 South Korean firms with a total investment of $1 billion.

During the 13th Five-Year Plan period (2016-20), Taicang's total foreign trade with the two countries was valued at $10.58 billion, accounting for 16.2 percent of the city's total foreign trade volume.