Recently, Weihai launched three initiatives to continue to deepen local cooperation between China and South Korea.

1. Build a high-end think tank platform. Relying on the Center for Northeast Asia Research Shandong University, Weihai China-Korea Free Trade Zone Local Economic Cooperation Center was established. It also established cooperation with the Development Research Center of the State Council, Chinese Academy of International Trade and Economic Cooperation, South Korean Yeosijae (Future Consensus Institute) and Incheon National University, etc. to continuously carry out Shandong's overall strategic research on cooperation with South Korea and provide intellectual support for the two-site cooperation.

2. Open up local cooperation and exchange channels. The coordination office and promotion center for local economic cooperation in China-Korea Free Trade Zone was established, and the first comprehensive city image exhibition hall "Incheon-Weihai Hall" was set up in Incheon, Korea. Incheon set up a representative office in Weihai, China and the "Weihai-Incheon Hall", which integrates city promotion, commodity display and economic and trade negotiation. The two sides have established a regular mechanism of holding local economic cooperation forums on the China-Korea Free Trade Agreement on a rotating basis, and creatively set up the Weihai-Incheon Joint Committee on Local Economic Cooperation and its sub-committees.

3. Build a golden channel for logistics. Weihai and Incheon will discuss the new mode of joint land and sea transportation of full truckload shipping and open a new land-sea-air transportation channel of "Weihai Port - Incheon Seaport - Incheon Airport" to further reduce customs procedures, lower transportation costs and enhance Weihai's logistics advantage to South Korea. Recently, the State Council Inter-Ministerial Joint Conference on the Development for Trade in Services issued the second batch of "best practice cases" for comprehensively deepening the innovative development of trade in services pilot. The case of Innovative international cooperation mechanism for trade in services in Weihai was successfully selected.