BUSAN < invest Korea

According to Yonhap News,

Busan-Jinhae Free Economic Zone (BJFEZ) Authority marks the eighth anniversary this month since its foundation with an ambitious goal to develop the region into the multifunctional city combining cutting-edge industries, logistics, international businesses, tourism and leisure.

The BJFEZ has made great achievements attracting a total of $1.37 billion from 58 foreign companies in the cutting-edge industries and logistics.

It has also successfully established the campus of Germany's FAU, renowned for its excellence in chemical and bio-engineering in Busan Science Industrial Complex.

It concluded a 20 million MOU to build Changwon International School in Ungdong District and plans to establish the whole education courses from kindergarten to high school by 2014.

This year BJFEZ will accelerate its efforts to build the Resort and Leisure Complex in Ungdong with $240 million FDI and $269 billion investment from domestic companies.

Myeongji International City will implement its plan to build the Global Campus and Medical Town. The Resort and Leisure Complex in Ungdong will also attract schools, hotels and golf courses.

Hwajeon, Mieum and Nammun-Namyang districts will develop into the High Value Added Industrial Cluster by attracting investment from home and abroad.

BJFEZ completed the construction of six complexes including Busan Science Industrial Complex, Sanho Industrial Complex and West Busan Distribution Complex late last year and will continue the construction of three complexes this year.

"BJFEZ will develop into Northeast Asia's economic hub with its optimal transportation networks including ports, Geoga and Eulsuk bridges, railways and Gimhae international Airport," said Ha Myeong-geun, chief of BJFEZ.    

Source Text

Source: Yonhap News (Mar. 7, 2011)

** This is an English translation of a Korean text.