BUSAN < invest Korea

According to Yonhap News,

Busan-si announced that its investment attraction this year was a record high.

Busan's mayor said in press conference on December 16 that "We attracted KRW 2.1 trillion from 23 domestic and foreign companies, signed an investment agreement for renewable energy and collective energy spply facilities worth KRW 1.5 trillion in Western Busan, resulting in the largest ever investment attraction, amounting to KRW 3.6 trillion."

Busan-si explained that "we made such achievements in various industries such as manufacturing, high-tech knowledge service industry, bio·medical industry, including 3 large global logistics companies, despite adverse factors such as the prolonged COVID-19 pandemic, global economic recession, among others."

The city attributed an inflow of companies into Busan to an increased value of the city of Busan thanks to its efforts to attract 2030 Busan World Expo, passage of Gadeok-do New Airport Special Act, and rapid growth of global E-commerce and smart logistics.

The city emphasized that the companies who signed the investment agreements, have been accelerating their efforts and actions to implement investments.

Prestige Biopharma, which was certified as the new growth engine industry from the government, already signed a land purchase contract in August, and about to hold Busan IDC groundbreaking ceremony in Myeongji Research & Development District in Gangseo-gu.

The project to build Myungji Global Campus, which had been sluggish, set the goal of opening in 2024, and a win-win agreement was signed between the Korea Land and Housing Corporation and Busan-si to build an international school in July.

The city plans to revise relevant ordinances and rules related with investment support system to utilize shared property in the city, provide incentives for major locations, and attract talents such as R&D personnel.

In addition, it plans to induce mutual growth of small and mid sized enterprises through cooperation projects with large business and create jobs for young people by endeavoring to attract companies in the high-tech industry through industry-academic cooperation to make Busan a place where young people want to live.

osh9981@yna.co.kr

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Source: Yonhap News (December 16, 2021)