BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) Dudong Area of Busan-Jinhae Free economic Zone (BJFEZ), the first to be developed in private-government governance in the country, has about to complete construction, in four years since commencement.

The BJFEZ Authority announced that the construction ceremony of Dudong Area is to be held on site at July 2, 2:30 p.m.

Dudong area was developed as a cutting-edge logistical complex with the private capital input of KRW 423.8 billion on 1.677 square meters.

As main facilities, the cutting-edge logistical complex occupies 360,000 square meters, while residential complex occupying 450,000 square meters.

It is located 9 km away from the Busan New Port, and 3 km away from Namhae Expressway Jinhae IC.

With expansion of roads connecting Euigok-Science Industrial Complex, Sosa-Noksan, import and export logistics in Gyeongnam and Busan regions can be promptly handled.

Canada's logistical company Kendall Square already build a logistical facility with KRW 230 billion investment in Dudong area, which will be followed by domestic online-shopping mall investment companies and others.

When e-commerce companies settled in by the early next year, it is expected create 1,400 new jobs.

A president of the BJFEZ Authority said, "Completion of Dudong area construction will stand as an exemplary case where local residents, investors, and administrative body came together to make it a success under challenging conditions," adding that "it will be the base to drive development of the 2nd New Port Hinterland city and global logistical complex."


joseph@yna.co.kr

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Source Text

Source: Yonhap News (July 1, 2019)

** This article was translated from Korean.