BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) Busan City will sign a USD 5.2 million worth of an investment memorandum of understanding (MOU) with Schaefer Yachts, a global yacht manufacturer on February 7 in Florianopolis, Brazil.

Schaefer Yachts, the world’s third largest yacht manufacturer, produces more than 2 million yachts every year, which are sold around the world.

Schaefer Yachts will establish Schaefer Asia in Busan and build a production facility on 10,101 ㎡ of land in the foreign investment zone of the Mieum Industrial Complex.

Schaefer Yachts plans to focus on the production of small- and medium-sized yachts and invest in the waterside area of the redevelopment area of the Busan North Port to enter the Asian markets including the Chinese market.

"We will attract repair yards, marina developers and yacht operators to carry out marketing activities for global companies," said a City official.

sjh@yna.co.kr

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Source Text

Source: Yonhap News (February. 06, 2015)

** This article was translated from the Korean.