BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) The number of companies relocated to Busan has increased for eight consecutive years.

Busan City announced August 6 that 34 companies related to manufacturing and relevant service industries have been relocated to the city in the first half of the year.

Only two companies have left the city.

The number of relocated companies has outpaced that of the companies leaving the city for eight consecutive years since 2008.

The city analyzed that the result is due to its key policy to create a business-friendly city by expanding industrial complexes and providing subsidies.

Among the 34 relocated companies, 22 of them were in the IT related service sector while 12 were in the manufacturing sector.

The former location of the relocated companies include the Seoul Capital Area (19 companies), South Gyeongsang Province (10 companies), Ulsan (2 companies) and North Chungcheong Province·South Chungcheong Province·Daegu (1 each).

The number of relocated companies from the Seoul Capital Area has more than doubled than the previous year.

sjh@yna.co.kr

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Source Text

Source: Yonhap News (Aug. 06, 2015)

** This article was translated from the Korean.