Sound investment environment and favorable geographic conditions have helped east China's Shandong Province become home to 43 percent of all the projects funded by the Republic of Korea (ROK) in China.

    And, more than half of the ROK-funded projects in the province are located in the coastal cities of Qingdao, Yantai and Weihai, according to the city's bureau of foreign trade and economic cooperation.

    To date, Qingdao has become home to 5,700 ROK-funded projects since the first was set up in 1988, actually involving nearly 5.5 billion US dollars of investment.

    From January to May this year, inflow of investment from the ROK into Qingdao amounted to 767 million dollars, accounting for more than 56 percent of the city's total use of direct overseas investment in the period, said the bureau.

    ROK business people have shifted their investment focus in Qingdao from laborer-intensive projects, like garment and toy production, to capital- and technology-centered enterprises, such as those engaged in foodstuff, machinery, chemical and electric parts.

    There are now more than 50,000 people from the ROK living in Qingdao. (xinhua) Edited by: Yu Liang