BUSAN < invest Korea

According to Yonhap News,

Busan Shared Growth Committee for Large Companies and Small and Medium Enterprises (SMEs) held the first working-level meeting in mid-October.

Founded in May, the committee is designed to promote mutual cooperation and growth of Busan-based large companies and SMEs.

The committee is classified into two subcommittees that specialize in machinery and shipbuilding and automobile, major industrial sectors considered to drive Busan's local economy. Each subcommittee is comprised of 15 members from large companies and SMEs.

The machinery and shipbuilding subcommittee includes Hanjin Heavy Industries, Daesun Shipbuilding & Engineering and S&W Corporation while the automobile subcommittee includes Renault Samsung Motors, SUNGWOO HIGHTECH and DAOU Precision Industry.

The members of the committee agreed to sign a shared growth contract, organize a shared growth seminar in November and hold a purchase seminar with large companies to attend.

"The committee will contribute to creating an environment where large companies and SMEs can grow together," said a Busan official.

Source Text

Source: Yonhap News (Oct. 24, 2012)

** This is the translation of a Korean article.