BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) On March 6, the Busan–Jinhae Free Economic Zone Authority (BJFEZ) announced that it signed an MOU for cooperation in investment with the Russian Far East Development Corporation (FEDC).

The FEDC is an organization under the Ministry for Development of Russian Far East tasked with development projects for the Russian Far East including Vladivostok.

It operates the Advanced Development Zones and the Free Port Special Economic Zones.

Under the MOU, the BJFEZ and the FEDC will exchange information and experiences to promote trade and investment and work together to attract investors.

The BJFEZ has been exerting efforts to build cooperative relationships with several institutions in the Russian Far East. For example, the BJFEZ sent a delegation to Vladivostok last September and participated in the Korea–China–Russia Northern Economic City Council.

BJFEZ Commissioner Jin Yang-Hyun expressed his expectations for the cooperation between the two organizations, saying that “the MOU will boost logistics activities in the northern regions and help Busan consolidate itself as an international logistics hub.”

pcs@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 6, 2018)

** This article was translated from the Korean.