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A center for designing integrated circuits (IC) jointly built by China and the Republic of Korea (ROK) has been inaugurated in the high-tech zone of Shenzhen city, south China's Guangdong Province.
Sino-Korea Soc Co. Ltd., with KETI, a major state scientific research organization of the ROK, holding a controlling stake, is the first business operating at the center.
Through the center, Shenzhen would make progress in developing an information technology industry in cooperation with partners from the ROK, said Liu Yingli, deputy mayor of Shenzhen, at a ceremony to mark the inauguration of the center.
Sino-Korea Soc Co. Ltd., for instance, would design and develop many new IC products, said Liu, who believed the joint venture improved Shenzhen's investment environment.
Shenzhen was home to 70 IC companies, which accounted for half of the national total, said Liu.
(Xinhua News Agency January 29, 2003)
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