In October 2019, Samsung closed its mobile phones plant in Huizhou city of Guangdong province. In June this year, Samsung announced that it will move its display production line from China to Vietnam. An internal document that the Huizhou government issued on August 10 showed that the Huizhou Import and Export business was hit hard when Samsung left and the CCP Guangdong provincial party committee asked that Huizhou take measures to stop Japanese and Korean companies from moving out.
In a confidential document that the Huizhou Municipal Bureau of Commerce issued on August 10, 2020, it stated that, in 2020, due to China US trade war, the pandemic, and the exit of Samsung, Huizhou’s import and export trade with Korea fell by 77.4 percent, of which exports plummeted by 89.5 percent. Out of 280 Korean companies, including Samsung and LG, which have invested in Huizhou over the years, as of July 2020 there were only 96 left, an indication that two-thirds of South Korean companies have left.
In the document, the Guangdong provincial party committee directed that Huizhou “take advantage of the relatively stable epidemic condition in Southeast Asia and use ‘fighting the epidemic together’ as the opportunity to prevent companies from Japan, South Korea and other neighboring countries from leaving. The document suggests that Huizhou use the upcoming economic conferences with Korea and Japan and focus on the promotion of the China-South Korea Industrial Park in Huizhou and organize Japanese and Korean companies with an investment interest to visit Huizhou. The document also summarized the recent cooperation projects Huizhou has with neighboring countries. It includes the opening of the Huizhou Economic and Trade Representative Office in South Korea at the end of August. These projects also include: hosting visits of Japanese, South Korean and Singaporean companies and institutions to visit Huizhou; returning visits to key enterprises in those countries; and engaging third party agencies to attract investment opportunities in Huizhou.
Source: Epoch Times, September 8, 2020
https://www.epochtimes.com/gb/20/9/8/n12389899.htm