BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) The Busan Jinhae Free Economic Zone Authority (BJFEZA) signed an investment memorandum of understanding with South Gyeongsang Province and Japan’s NTL Naigai Trans Line on July 1 to build a logistics center at the Ungdong hinterland complex.

NTL Naigai Trans Line will invest KRW 13 billion (more than USD 10 million of foreign direct investment) to build a global logistics center on 33,000㎡ of land at the Ungdong hinterland complex by 2019.

The initial plan of NTL Naigai Trans Line was to invest USD 4 million in the complex but expanded to USD 10 million thanks to the incentives and administrative support of the BJFEZA.

The BJFEZA and NTL Naigai Trans Line will establish project plan and agree on the details in the near future.

"Around 10 global logistics and manufacturing companies have expressed their intention to invest in the Ungdong hinterland complex, which will accelerate the development of the hinterland and attracting investment," said a BJFEZA official.

joseph@yna.co.kr

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Source Text

Source: Yonhap News (Jul. 01, 2015)

** This article was translated from the Korean.