BUSAN < invest Korea

According to Yonhap News,

A cluster will be created for the marine leisure equipment industry in Busan and Gyeongnam-do (South Gyeongsang Province).

Busan City said on April 19th it was in discussion with relevant organizations in order to build a marine leisure equipment industry cluster.

A candidate site is Seongsan, Nokasn-dong, Gangseo-gu, Busan which has general residential and development-restricted districts. The area is about 200,000m2.

Busan City estimates that the total cost to build the cluster will be around KRW 100 billion and plans to commission a service to obtain the approval for its development plan in the second half of the y ear.

The city expects about ten marine leisure equipment firms in Busan and Gyeongnam will participate in the cluster construction.

An official of Busan said “with an increasing number of people enjoying marine leisure activities, related businesses are gaining attention,” and added “we will be able to advance technologies and grow export of the industry by creating the cluster and eventually enhance the industrial competitiveness.”

Source Text

Source: Yonhap News (April 19, 2011)

**This is an English translation of a Korean news article.