Wuxi city signs an agreement on forming an economic partnership with Ulsan, South Korea’s southeastern port city, on Oct 25. [Photo provided to chinadaily.com.cn]

Wuxi city, Jiangsu province, signed an agreement on forming an economic partnership with Ulsan, South Korea's southeastern port city, on Oct 25, according to the Chinese-language Wuxi Daily.

The two sides agreed to facilitate cooperation in technology, talent recruitment, investment, culture, travel and education.

Li Xiaomin, the Party secretary of Wuxi, Jiangsu province, met with Kim Gi-hyeon, mayor of Ulsan, during the signing ceremony.

Li expressed his warm welcome to the South Korean delegation and briefly introduced developments in Wuxi's economy in recent years. He said that Wuxi and Ulsan had been cooperating in economic development, and in environmental, transport, and sports areas after the two sides became sister cities in 2013.

Ulsan had been upgrading its traditional industry by promoting new energy and new material industry, said Kim, adding that the two sides had great opportunity in cooperation due to their similar industrial structures and development trends. He said that the Ulsan government would facilitate investment cooperation with Wuxi city in the future.

As South Korea's industrial capital Ulsan is home to Hyundai Motors, Hyundai Heavy Industries Co and SK Energy Co.