BUSAN < invest Korea

According to Yonhap News,

Since the devastating earthquake that hit Japan, Busan City is trying to entice Japanese companies to move to Busan. The city said on Thursday that it has decided to establish a 660,000-square meter industrial complex specialized for Japanese companies at the district No.2 in the international industrial logistics complex in Gangseo-gu to be built in 2014 and is discussing with Japanese conglomerates. The complex designated for occupancy by promising Japanese enterprises focuses on the manufacturing industry including automaker and marine plant, and the worldwide Japanese  enterprises equipped with high-added value and core technology are eligible for occupancy.

Busan City has founded the research group consisting of Busan Metropolitan Corporation, Busan Development Institute and Japanese urban planning companies such as RIA, Mitsubishi and Sumitomo to discuss establishment of industrial complex designated for Japanese enterprises and its future direction. The city is planning to embark on the construction from the second half of the year and complete it by 20114 after finishing compensation for land within 2012. The plan of attracting Japanese companies to Busan Data Center built by LG CNS in Mieum district,Gangseo-gu, Busan City, is gaining visibility.

LG CNS has recently concluded the MOU for business cooperation in the data center with the Japanese communications company NTT. Both companies agreed on sharing operation knowhow and solution for data center, working together for developing new service models and making aggressive efforts in attracting new customers in Japan. Based on the cooperation, LG CNS plans to develop the Busan Data Center to be established in the late 2012 into the representative global data center in the Asian and Pacific region.

The company is also trying to establish a professional financial internet data center in Busan International Financial Center within the Innovative district in Busan, which could attract clients of not only domestic financial institutions but also overseas ones including those in Japan. Financial institutions such as Korea Exchange (KRX) and Nonghyup will occupy the Busan International Financial Center where the internet center is to be built down the road that will be served as a finance-related data center for domestic and overseas companies.

Im Gyeong-mo, head of International Industrial Logistics Busan City Team said that "Busan will be aggressively engaged in attracting Japanese enterprises utilizing incentive budgets for investment promotion", adding that "Establishment of industrial complex or data center specialized for Japanese companies could be helpful in attracting other global companies."

Source Text

Source: Yonhap News (Jan. 5, 2012)

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